Marine Hull and Associated Liabilities (M98) provides knowledge and understanding of marine hull and related liability risks and their insurance.
The default Enrolment option for this unit includes:
- Latest version of the core learning content, in digital format only.
- Assessment entry.
This study text provides an overview of marine hull and associated liabilities insurance and its relationship with the wider international shipping community.
With over 90% of the world's trade transported by sea, the provision of marine insurance safeguards the financial interests of individuals, companies and sovereign states when moving goods and people.
We look at the function of shipping and examine the main elements of marine hull and liability risk. We consider the legal environment, international legal frameworks and how international conventions are implemented in English law before looking at safety and pollution regulations, collision regulations and the Recycling Convention.
We consider the underwriting process and practice used in the marine insurance market, the scope of cover and specialist wording, while also viewing the protection and indemnity (P&I) insurance market before exploring the process and value of claims handling, investigation and settlement procedures.
Building a successful career in insurance
This course is suitable for anyone seeking to develop knowledge and understanding of marine hull and associated liabilities, either in the insurance profession or in a supporting role. Marine Hull and Associated Liabilities (M98) counts towards a Diploma in Insurance. It may also count towards the Advanced Diploma in Insurance.
Please note it is assumed that you already have knowledge of the fundamental principles of insurance as covered in Insurance, Legal and Regulatory (IF1) or equivalent examinations.
Summary of learning outcomes
- Understand the principal elements of shipping and world trade.
- Understand the legal and regulatory environment of shipping.
- Understand the key provisions of the Marine Insurance Act 1906.
- Understand and apply key underwriting considerations in marine insurance.
- Understand the scope of cover under marine hull, liability and related insurances.
- Understand the scope of protection and indemnity (P&I) insurance and how it is provided.
- Understand claims investigation, handling and settlement procedures in marine insurance.
- Coursework assignment with 10 compulsory short answer questions; and a 60 minute exam comprising 50 multiple-choice questions (MCQs)
- 60% coursework nominal pass mark
- 65% exam nominal pass mark
- The average pass rate for those completing Diploma in Insurance mixed assessment units in full is currently 91.2%
Study material - editions available
2021-22 edition (applicable to exams sat 01 May 2021 to 30 Apr 2022).