APPLIES TO ACADEMIC YEAR 2012/2013
NSA 2510 Marine Insurance
Responsible for the course
Department of Accounting - Auditing and Law
According to study plan
Language of instruction
The course gives an introduction to international marine insurance, which is insurance for ships and ships operations. Both direct insurance and reinsurance is covered. Common l insurance terms are discussed, as well as the specific terms applicable to marine insurance covers. The course covers the marine insurance markets worldwide as well as common conditions and rules applicable to different covers, focusing on the worlds second largest insurance market, the Scandinavian market. The students will learn to identifythe Owners, Charterers and other third party interests in the vessel. The course focuses on capital insurances, insurances for potential legal liabilities and insurances against freight losses. War insurance covers will also be discussed, as well as the principal covers and conditions for H&M insurance, P&I insurance, TLO and freight insurances. Claims handling and the role of the broker wil be covered
The students will acquire an understanding of laws, rules and conditions applicable to international marine insurance, including:
The students will be able to identify and assess the shipowners, charxterers and other third parties insurable interests in the relevant vessel. The students will be able to find and use available insurance covers, and to interpret and use them to solve practical cases. The students will also be able to assess different clauses and to distinguish between covers available in the different markets relating to different insurance covers.
By understanding the concept and framework of marine insurance in an international context, the students will be able to reflect on the need and application of the covers. By being able to compare the conditions of different markets, they will be able to reflect on the quality and price of available covers.
Falkanger, Thor, Hans Jacob Bull and Lasse Brautaset. 2011. Scandinavian maritime law : the Norwegian perspective. 3rd ed. Universitetsforlaget. Chapters 21 and 22. Tidligere utg. med tittel: Introduction to maritime law
Cathrine Bjune. 2010. Study guide in Marine Insurance. 200. Vil komme i ny utgave vår 2010
Cefor. Commentaries to the Marine Insurance Plan
Det Norske Veritas. 2010. Norwegian Marine Insurance Plan of 1996 : version 2010. Available from URL: http://www.norwegianplan.no/nor/index.htm
Rhidian, Thomas, ed. 1996-2009. The Modern law of marine insurance. LLP. Trebindsverk
Handbook on P&I Insurance. GARD P&I club
Learning process and workload
The course is conducted through a total of 45 hours of lectures, including case work in groups and discussions
The students must hand in a written group assignment during the course. Other cases presented by the lecturer should be completed before review in class. Students are expected to attend lectures and to bring the Norwegian Marine Insurance plan to class.
Recommended workload in hours
A three-hour individual written examination concludes the course.
NSA 25101 - Written exam, counts 100% to obtain final grade in NSA 2510 Marine Insurance, 7.5 credits.
Examination support materials
All support materials allowed.
Examination support materials at written examinations are explained under exam information in our web-based Student handbook. Please note use of calculator and dictionary. http://www.bi.edu/studenthandbook/examaids
At the next ordinary examination.
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