Skip to main content
NounStudy
Back to Course Catalog
CLL809Law3 Unitsintermediate

LAW OF MARINE INSURANCE I

This course provides a comprehensive understanding of marine insurance law in Nigeria. It explores the regulatory framework, legal issues, rights, and obligations of parties involved in marine insurance contracts. The course covers the historical development of marine insurance, its classification, and general principles such as good faith, insurable interest, subrogation, and double insurance. It also examines the institutional framework for regulating marine insurance in Nigeria.

Take a Practice TestGenerate AI Study Notes

Take a practice test or generate AI study notes to help you excel in this course.

156h
Study Time
13
Weeks
12h
Per Week
none
Math Level
Course Keywords
Marine InsuranceMaritime LawInsurance ContractRisk ManagementNigerian Law

Course Overview

Everything you need to know about this course

Course Difficulty

Intermediate Level
Builds on foundational knowledge
65%
intermediate
📚
Math Level
No Math
📖
Learning Type
Theoretical Focus

Course Topics

Key areas covered in this course

1

Nature of Marine Insurance Law

2

Historical Development of Marine Insurance

3

Classification of Marine Insurance

4

General Principles of Marine Insurance

5

Good Faith

6

Insurable Interest

Total Topics6 topics

Requirements

Knowledge and skills recommended for success

Basic knowledge of contract law

💡 Don't have all requirements? Don't worry! Many students successfully complete this course with basic preparation and dedication.

Assessment Methods

How your progress will be evaluated (3 methods)

assignments

Comprehensive evaluation of course material understanding

Written Assessment

tutor-marked assessments

Comprehensive evaluation of course material understanding

Written Assessment

final examination

Comprehensive evaluation of course material understanding

Written Assessment

Career Opportunities

Explore the career paths this course opens up for you

Insurance Broker

Apply your skills in this growing field

Claims Adjuster

Apply your skills in this growing field

Underwriter

Apply your skills in this growing field

Risk Manager

Apply your skills in this growing field

Maritime Lawyer

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

ShippingLogisticsInsuranceFinanceInternational Trade

Study Schedule Beta

A structured 13-week journey through the course content

Week
1

Module 1: Nature of Marine Insurance Law

9h

Unit 1: Importance of Marine Insurance

3 study hours
  • •Read the introduction to understand the importance of marine insurance.
  • •Study the benefits of marine insurance to maritime activities.
  • •Reflect on the role of marine insurance in international relations.

Unit 2: Meaning of Marine Insurance Contract

3 study hours
  • •Define marine insurance contract.
  • •Differentiate between textual and statutory definitions.
  • •Understand the obligations exchanged between parties.

Unit 3: Nature of Marine Insurance Contract

3 study hours
  • •Identify the contractual nature of marine insurance.
  • •Understand the aleatory nature of insurance contracts.
  • •Recognize marine insurance as a contract of indemnity.
Week
2

Module 2: Historical Development of Marine Insurance

9h

Unit 1: Pre-colonial Era

3 study hours
  • •Discuss the origins of marine insurance.
  • •Examine the influence of the UK Marine Insurance Act, 1906.
  • •Understand the historical context of marine insurance.

Unit 2: Post-Colonial Era

3 study hours
  • •State the laws regulating marine insurance in Nigeria.
  • •Discuss the regulatory framework for the insurance industry.
  • •Understand the impact of post-independence legislation.

Unit 3: Institutional Framework for the Regulation of Marine Insurance Law in Nigeria

3 study hours
  • •Describe the role of NAICOM in regulating marine insurance.
  • •Discuss the powers and limits of NAICOM.
  • •Understand the institutional framework for insurance regulation.
Week
3

Module 3: Classification of Marine Insurance

8h

Unit 1: Mutual Insurance and Commercial Insurance

4 study hours
  • •Discuss the organization of marine insurance businesses.
  • •State the motives for mutual and commercial insurance.
  • •Understand the differences between mutual and commercial insurance.

Unit 2: Kinds of Marine Policies

4 study hours
  • •List the various covers provided in marine insurance.
  • •Describe the impact on premium and liability.
  • •Understand the different types of marine insurance policies.
Week
4

Module 4: General Principles of Marine Insurance

8h

Unit 1: Good Faith (Uberrimae Fidei)

4 study hours
  • •Explain the principle of good faith.
  • •Understand the implications of breaching the duty of disclosure.
  • •Recognize marine insurance as a fiduciary relationship.

Unit 2: Insurable Interest

4 study hours
  • •State that insurable interest differentiates marine insurance from gambling.
  • •Explain the timing requirements for insurable interest.
  • •Understand the nature of insurable interest.
Week
5

Module 4: General Principles of Marine Insurance

8h

Unit 3: Subrogation

4 study hours
  • •Explain the concept of subrogation.
  • •Understand the rights of the insurer against third parties.
  • •Recognize the exception to the rule of privity of contract.

Unit 4: Double Insurance and Contribution

4 study hours
  • •Explain the concept of double insurance.
  • •Understand the principle of contribution.
  • •Recognize the fair distribution of risk among insurers.
Week
6

Module 1: Nature of Marine Insurance Law

9h

Module 1 Review

9 study hours
  • •Review Module 1 units.
  • •Complete self-assessment exercises.
  • •Prepare for assignments.
Week
7

Module 2: Historical Development of Marine Insurance

9h

Module 2 Review

9 study hours
  • •Review Module 2 units.
  • •Complete self-assessment exercises.
  • •Prepare for assignments.
Week
8

Module 3: Classification of Marine Insurance

9h

Module 3 Review

9 study hours
  • •Review Module 3 units.
  • •Complete self-assessment exercises.
  • •Prepare for assignments.
Week
9

Module 4: General Principles of Marine Insurance

8h

Unit 1: Good Faith (Uberrimae Fidei)

4 study hours
  • •Review Unit 1: Good Faith (Uberrimae Fidei).
  • •Complete self-assessment exercises.
  • •Prepare for assignments.

Unit 2: Insurable Interest

4 study hours
  • •Review Unit 2: Insurable Interest.
  • •Complete self-assessment exercises.
  • •Prepare for assignments.
Week
10

Module 4: General Principles of Marine Insurance

8h

Unit 3: Subrogation

4 study hours
  • •Review Unit 3: Subrogation.
  • •Complete self-assessment exercises.
  • •Prepare for assignments.

Unit 4: Double Insurance and Contribution

4 study hours
  • •Review Unit 4: Double Insurance and Contribution.
  • •Complete self-assessment exercises.
  • •Prepare for assignments.
Week
11

Module 1: Nature of Marine Insurance Law

9h

TMA 1 Preparation

9 study hours
  • •Complete Tutor Marked Assignment 1.
  • •Review all topics from Module 1.
  • •Focus on key concepts and definitions.
Week
12

Module 2: Historical Development of Marine Insurance

9h

TMA 2 Preparation

9 study hours
  • •Complete Tutor Marked Assignment 2.
  • •Review all topics from Module 2.
  • •Focus on key concepts and definitions.
Week
13

Module 3: Classification of Marine Insurance

9h

TMA 3 Preparation

9 study hours
  • •Complete Tutor Marked Assignment 3.
  • •Review all topics from Modules 3 and 4.
  • •Focus on key concepts and definitions.

This study schedule is in beta and may not be accurate. Please use it as a guide and consult the course outline for the most accurate information.

Course PDF Material

Read the complete course material as provided by NOUN.

Access PDF Material

Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create detailed summaries of each unit, focusing on key definitions and principles.

2

Practice applying legal principles to hypothetical scenarios.

3

Review past assignments and tutor feedback to identify areas for improvement.

4

Focus on understanding the Marine Insurance Act, 2004 and relevant case law.

5

Allocate sufficient time to review each module, ensuring a comprehensive understanding of the course material.

Related Courses

Other courses in Law that complement your learning

CLL802

CORPORATE LAW, MANAGEMENT AND FINANCE (ADVANCED CORPORATION LAW) II

3 Units
PUL805

Comparative Criminal Law I

3 Units
CLL812

LAW OF INDUSTRIAL AND INTELLECTUAL PROPERTY II

3 Units
View All Law Courses