INS 217

Global Trade and Marine Insurance

TU BBM · Semester 7 · BBM curriculum effective from 2021

Requirement
elective
Credits
3
Past papers
0 papers

Syllabus

What this course covers and how the teaching time is divided.

Global Trade and Marine Insurance Syllabus

Official TU PDF

Tribhuvan University

Faculty of Management

Office of the Dean

Bachelor of Business Management (BBM)

Course Title: Global Trade and Marine Insurance

Course Code: INS 217

Semester: Semester 7

Nature of Course: elective

Full Marks: 100

Pass Marks: 50

Credit Hours: 3 Cr.

Curriculum: BBM curriculum effective from 2021

Course Description

:

This course contains introduction to marine insurance, cargo insurance, hull insurance, marine liability insurance, marine claim, and recoveries under subrogation, general average and salvage, inland marine insurance. Finally, it presents global trade and marine insurance market.

Course Objective

:

The main objective of this course is to acquaint students with concepts and practices of marine insurance. It also aims to analyze the major issues related to the global trade and marine insurance market. Course Description This course contains introduction to marine insurance, cargo insurance, hull insurance, marine liability insurance, marine claim, and recoveries under subrogation, general average and salvage, inland marine insurance. Finally, it presents global trade and marine insurance market.

Course Contents:

Lecture hours show the approximate classroom time allocated to each unit.

Unit 1. Introduction to Marine Insurance

6 hours
  • Concept and characteristics of marine insurance
  • Subject matter of marine insurance
  • Principles of marine insurance
  • Role of marine insurance in global trade, Scope of m arine insurance: Oceanic and inland marine insurance.

Unit 2. Cargo Insurance

5 hours
  • The vessel
  • The voyage or transit
  • Nature of cargo
  • Packing
  • Insurance containers
  • Conditions of insurance.

Unit 3. Hull Insurance

6 hours
  • Policy documents
  • Peril covered
  • Pollution hazard
  • Duty of the assured
  • Collision liability, Sister ship
  • Termination
  • Port risk i nsurance
  • Institute f ishing vessel clauses
  • Tariff for vessels
  • Sue and labor charges
  • Amount recoverable procedure.

Unit 4. Marine Liability Insurance

6 hours
  • Marine l iability underwriting and coverage
  • Marine lia bility claim and settlement
  • Difference between general liability insurance and marine liability insurance.

Unit 5. Marine Claim

5 hours
  • Marine cargo claims
  • General average loss
  • Basic duties of the assured
  • Claim p ayable abroad.

Unit 6. Recoveries under Subrogation

5 hours
  • Indian carriage of goods by Sea Act
  • Carriage of goods by Rail
  • Carriage of goods by road
  • Liability of Port Authority
  • Postal Authority
  • Customs
  • Guidelines and Directives.

Unit 7. General Average and Salvage

5 hours
  • General background
  • Contributory i nterests and values
  • Amount made good
  • General average
  • Salvage.

Unit 8. Inland Marine Insurance

5 hours
  • Concept, History, Tariff, Coverage, Condition, Policy Wording
  • Inland marine insurance in Nepal

Unit 9. Global Trade and Marine Insurance Market

5 hours
  • Trade and transportation trade
  • Marine i nsurance market
  • Prospects of m arine insurance
  • Major issues of marine insurance

Suggested Readings:

Mishra, M. N. & Mishra, S. B. Insurance Principles and Practices. Delhi: S. Chand & Company Ltd. Gupta, P. K. Insurance and Risk Management. Mumbai: Himalaya Publishing House Gurses, O. Marine Insurance Law. New York: Routledge Harrington, S.E. & Niehaus, G.R. Risk management and insurance. New Delhi: McGraw Hill Education (India) Pvt Ltd. Government of Nepal, Insurance Act and Insurance Regulation. Directives, guidelines, policies issued by Nepal Insurance Authority/ Beema Samiti.