INTRODUCTION
The course is designed to provide an understanding of the operation of Lloyd's within the Global Insurance Market. The course includes a brief history of Lloyd's up to the present day and the important roe it plays. This programme will provide delegates with a foundation level of insurance and the various organisations which are part of the Lloyd’s insurance market.
OBJECTIVES
Gaining a comprehensive understanding of marine insurance provide you with the confidence to deal with the claims situations faced in the maritime industry insurance as a risk transfer mechanism the nature of risks which can and cannot be insured types of risks which are insured by Lloyd’s of London classes/lines of insurance transacted by Lloyd’s of London why Lloyd’s of London is an international insurance marketplace the role of the LMA as a voice for the marketplace the organisation of Lloyd’s and the differences between a Lloyd’s syndicate and a managing agent
how an insurance programme is set up for a major buyer of insurance including the subscription system the arrangement/placing of risks into the Lloyd’s market regulation of the Lloyd’s insurance market why insurers buy reinsurance and an overview of reinsurance.
WHO SHOULD ATTEND ?
ship owners
operators
managers seeking to develop their business and commercial knowledge.
maritime and insurance personnel
Containers terminals personnel
Lawyers
Shipping agencies managers
claims handlers and underwriters
loss prevention and risk managers
COURSE OUTLINE
Day 1
Introduction to Insurance
Why individuals and organisations purchase Marine insurance
Marine Insurance needs of people and organisations
Assessing marine Insurance Risk
Identifying risk hazards
Interpreting Policy wordings
Handling Claims
Marine Industry regulation and compliance
Day 2
Who Provides Marine (RA)Insurance?
Insurance companies
Reinsurance companies
Lloyd's of London
The role of insurance brokers and insurance agents
Protection and Indemnity Clubs (P & I Clubs)
Insurance and reinsurance pools
Day 3
The Policy
Rules for construction of policy
What a policy must specify
Types of policies
Voyage policy on ship
Voyage policy on goods
Assignment of Policy
Day 4
Institute Cargo Clauses
Institute Cargo Clauses (1982)
Institute Cargo Clauses (2009)
Institute time and Voyage Clauses Hulls (1983, 1995, 2003)
Unctad model Clauses on Marine Hull and Cargo Insurance (1984)
Other Examples of Standard Marine insurance Terms and Conditions.
Case Study
Day 5
Protection and Indemnity Insurance (P & I) and Reinsurance
History and scope of P&I cover
Club Cover
Club Structure
Principles of Mutuality
Underwriting
Other services provided by P&I Clubs
Distinctive features differentiating Clubs from liability underwriters in the commercial markets
Difference between reinsurance and co-insurance
Marine reinsurance contract
Forms of reinsurance
IN-HOUSE TRAINING
LMA Training is capable of conducting this training programme exclusively for your delegates. Please e-mail us on admin@lmitac.com for further information and/or to receive a comprehensive proposal.
DOCUMENTATION
High-Quality material has been prepared by the LMAteam for distribution to delegates. In addition, a special note pad to facilitate note-taking will be provided.
CERTIFICATES
Accredited Certificate of completion will be issued to those who attend & successfully complete the programme.
SCHEDULE
Our Course timings commence at 09:00AM12:45PM and 01:00PM - 05:00PM.
REGISTRATION & PAYMENT
Please complete the registration form on the course page & return it to us indicating your preferred mode of payment. For Further Information, please get in touch with us.
CANCELLATION AND REFUND POLICY
Delegates have 14 days from the date of booking to cancel and receive a full refund or transfer to another date free of charge. If less than 14 days notice is given then we will be unable to refund or cancel the booking unless on medical grounds. For more details about the Cancellation and Refund policy, please visit www.lmitac.com/terms-and-conditions/
TRAVEL AND TRANSPORT
We are committed to picking up and dropping off the participants from the airport to the hotel and back.
CONTACT INFO
LONDON
London - Oxford Street 25 N Row, London W1K 6DJ
+44 (0) 20 36 916 970
Info@lmitac.com
DUBAI
Business Bay, ParkLane Tower, Offices 718 - 719
+971 43880094
Info@lmitac.com