FAK 2803 Maritime Law and Insurance

FAK 2803 Maritime Law and Insurance

Course code: 
FAK 2803
Department: 
Law and Governance
Credits: 
7.5
Course coordinator: 
Morten Lund
Product category: 
Executive
Portfolio: 
Course in Insurance
Semester: 
2018 Autumn
Active status: 
Re-sit exam
Resit exam semesters: 
2018 Autumn
Teaching language: 
English
Course type: 
One semester
Introduction

The course covers an introduction to International Maritime Law, and the rules applicable to the Owner`s and Charterer`s liabilities in connection with the operation of the vessel. International conventions relating to liabi.lities and limitation of liability will be covered. Relevant contracts used in Maritime Law and Marine insurance is covered, and illustrates the division of liabilities and rights between the parties and how this affects the insurance covers. The course covers liabilities in contracts and in tort, as well as the rules relation to limitation of liability. The course examines the Owners`s and Charterer`s insurable interests in the vessel, and the marine insurance covers available to cover these interests, and the markets in which the covers are available. The focal point is the Nordic market and covers, but makes a comparison to the English market and relevant covers. Since shipping is international and the rules largely based on international onventions, these will be referred to in an international context.

Learning outcomes - Knowledge

The course will provide the students with an understanding of commercial practices as well as the legislative and contractual framework of international shipping, and how it impacts insurance covers and marine insurance. The importance of national law and international conventions is covered, as well as common contracts and terms. The shipowners legal and contractual liabilities with respect to ship registration, and legal liabilities, and the students will learn about these liabilities, and how to insure them in the international marine insurance markets. The students will be able to identify liabilities in contract and in tort, determine jurisdiction and applicable law, and decide on relevant insurance covers. The students will understand the owner’s capital and income interests in his vessel as well as being able to identify and assess potential legal liabilities in contract and in tort. The students will also know how marine risks are assessed, and how the premium is calculated.

Learning outcomes - Skills
  • The students will acquire an understanding of laws and contracts and insurance conditions applicable to international shipping and marine insurance covers, and be able to identify and apply these with respect to:
  • Shipowners liabilities to cargo, passengers and the environment
  • Liability for collisions and salvage
  • Limitation rules impacting insurance covers and legal liabilities
  • Insurance covers and markets in which they can be obtained

The students will also be able to seek relevant insurance covers, and to compare covers from different international insurance markets. They will be able to apply relevant covers for H&M insurance, P&I insurance, War risk covers, Loss of Hire and TLO insurances to practical cases.

Learning outcomes - Reflection

The students will be able to identify and assess the shipowners, charterers and other third parties potential legal liabilities in connection with the owning and operation of the vessel. This knowledge will enable them to focus on elimination of risk, environmental shipping and damage control through a better operation, better and more efficient insurance covers, and a focus on mitigation and loss prevention. When approaching different contracts for the deployment of ships, and insurance conditions, the knowledge gained will give the students a better basis for evaluating potential risks and costs.

Course content

The course will introduce students to the role of maritime transport in international trade and to the importance of international law and its impact on shipping. Including:

  • International Maritime Law
  • International Conventions
  • Ship registration, national flags and “flags of convenience”
  • Standard contracts and forms
  • Ship owners liabilities in contract and tort
  • Carriers liability for cargo and passengers
  • Liability for oil pollution
  • Salvage and collision
  • Limitation rules
  • Maritime Liens

The course will also examine the following:

  • The main marine insurance markets
  • The ship owners and charterers insurable interests
  • Norwegian and English covers
  • Hull and Machinery Insurance
  • P&I Insurance
  • TLO insurances
  • Third party insurances
Learning process and requirements to student

The course is conducted through a total of 45 hours of lectures and case work. As a part of lessons students must hand in a paper. Some of the questions at the final exam will be based on theoretical topics from the paper.

 

Software tools
No specified computer-based tools are required.
Qualifications

Higher Education Entrance Qualification

Required prerequisite knowledge

None.

Exam categoryWeightInvigilationDurationSupport materialsGroupingComment exam
Exam category:
Submission
Form of assessment:
Written submission
Exam code:
FAK 28031
Grading scale:
ECTS
Grading rules:
Internal and external examiner
Resit:
Examination when next scheduled course
100Yes3 Hour(s)
  • All printed and handwritten support materials
  • BI-approved exam calculator
  • Simple calculator
Individual A three hour individual written exam concludes the course.
Exams:
Exam category:Submission
Form of assessment:Written submission
Weight:100
Invigilation:Yes
Grouping (size):Individual
Support materials:
  • All printed and handwritten support materials
  • BI-approved exam calculator
  • Simple calculator
Duration:3 Hour(s)
Comment:A three hour individual written exam concludes the course.
Exam code:FAK 28031
Grading scale:ECTS
Resit:Examination when next scheduled course
Exam organisation: 
Ordinary examination
Total weight: 
100
Workload activityDurationType of durationComment student effort
Teaching33Hour(s)
Group work / Assignments6Hour(s)
Review of assignments in plenary6Hour(s)
Prepare for teaching75Hour(s)
Self study80Hour(s)
Expected student effort:
Workload activity:Teaching
Duration:33 Hour(s)
Comment:
Workload activity:Group work / Assignments
Duration:6 Hour(s)
Comment:
Workload activity:Review of assignments in plenary
Duration:6 Hour(s)
Comment:
Workload activity:Prepare for teaching
Duration:75 Hour(s)
Comment:
Workload activity:Self study
Duration:80 Hour(s)
Comment:
Sum workload: 
200

A course of 1 ECTS credit corresponds to a workload of 26-30 hours. Therefore a course of 7,5 ECTS credit corresponds to a workload of at least 200 hours.