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CLL810Law3 Unitsintermediate

LAW OF MARINE INSURANCE II

This course is an expose on the legal issues in marine insurance. It builds upon the foundational knowledge provided in Law of Marine Insurance I (CLL805). The course delves into the rights and obligations of parties involved in marine insurance contracts, as well as the legal relationships of marine insurance intermediaries. Specific issues are discussed under various study units using simple and digestible language to enhance understanding.

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156h

Study Time

13

Weeks

12h

Per Week

none

Math Level

Course Keywords

Marine InsuranceContract LawMaritime LawInsurance IntermediariesIndemnity

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

Contract Formation

2

Contractual Terms

3

Marine Insurance Intermediaries

4

Assignment of Policy

5

Rights and Obligations

6

Claims Settlement

Total Topics6 topics

Requirements

Knowledge and skills recommended for success

Basic understanding 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 (2 methods)

assignments

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

Marine Underwriter

Apply your skills in this growing field

Risk Manager

Apply your skills in this growing field

Legal Consultant

Apply your skills in this growing field

Industry Applications

Real-world sectors where you can apply your knowledge

ShippingLogisticsInsuranceFinanceLaw

Study Schedule Beta

A structured 13-week journey through the course content

Week

1

Module 1: Formation of Marine Insurance Contract

9h

Unit 1: Negotiation/Proposal

3 study hours

•Understand the negotiation process in marine insurance.
•Identify key elements of a valid proposal.
•Analyze the legal implications of disclosures and non-disclosures.

Unit 2: Consideration/Premium

3 study hours

•Examine the role of premium as consideration in marine insurance.
•Differentiate between marine and general insurance premium payment requirements.
•Analyze factors influencing premium determination.

Unit 3: The Insurance Policy

3 study hours

•Identify the essential components of a marine insurance policy.
•Understand the legal implications of the First Schedule to the Marine Insurance Act.
•Analyze the importance of accurate disclosures in policy placement.

Week

2

Module 2: Contractual Terms

9h

Unit 1: Conditions and Warranties

3 study hours

•Distinguish between conditions and warranties in marine insurance contracts.
•Analyze the legal consequences of breaching conditions and warranties.
•Understand the impact of the 'basis of the contract' clause.

Unit 2: Implied Warranty

3 study hours

•Explore the concept of implied warranties under the Marine Insurance Act.
•Analyze the implied warranty of seaworthiness and its implications.
•Understand the consequences of deviating from the agreed voyage.

Unit 3: Excess and Average Clauses

3 study hours

•Understand the purpose and application of excess clauses in marine insurance.
•Differentiate between general and particular average.
•Analyze the impact of average clauses on risk distribution.

Week

3

Module 3: Marine Insurance Intermediaries

8h

Unit 1: Intermediaries

4 study hours

•Identify the different types of marine insurance intermediaries.
•Analyze the role of insurance brokers in policy placement and claim settlement.
•Understand the legal requirements for insurance broker registration.

Unit 2: Obligations and Rights of Intermediaries

4 study hours

•Examine the fiduciary duties of insurance brokers and agents.
•Analyze the rights and obligations of intermediaries in marine insurance contracts.
•Understand the consequences of breaching fiduciary duties.

Week

4

Module 4: Assignment of Marien Insurance Policy

6h

Unit 1: Assignment of Marine Insurance Policy

6 study hours

•Understand the concept of assignment in marine insurance.
•Analyze the legal requirements for valid assignment of a marine insurance policy.
•Understand the rights and obligations of the assignee.

Week

5

Module 5: Obligations of Parties to Marine Insurance Contracts

6h

Unit 1: Rights of the Assured

6 study hours

•Identify the rights of the assured under a marine insurance contract.
•Analyze the assured's right to indemnity in the event of a loss.
•Understand the circumstances under which the assured is entitled to a return of premium.

Week

6

Module 5: Obligations of Parties to Marine Insurance Contracts

6h

Unit 2: Righters of the Insurer

6 study hours

•Identify the rights of the insurer under a marine insurance contract.
•Analyze the insurer's right to premium payment.
•Understand the insurer's right to disclosure of material facts.

Week

7

Module 6: Settlement of Marine Insurance Contracts

8h

Unit 1: Preliminary Issues

4 study hours

•Understand the preliminary steps in settling marine insurance claims.
•Analyze the importance of determining the cause of loss or damage.
•Understand the role of average adjusters in claim settlement.

Unit 2: Measure of Indemnity

4 study hours

•Analyze the factors determining the measure of indemnity in marine insurance.
•Differentiate between total and partial loss.
•Understand the implications of valued and unvalued policies.

Week

8

Module 6: Settlement of Marine Insurance Contracts

6h

Unit 3: Excluded Losses

6 study hours

•Identify losses excluded from coverage under marine insurance policies.
•Analyze the impact of willful misconduct on coverage.
•Understand the exclusion of losses caused by delay or inherent vice.

Week

9

Module 1: Formation of Marine Insurance Contract

9h

Unit 1: Negotiation/Proposal

9 study hours

•Review Module 1 key concepts and definitions.
•Complete practice questions on contract formation.
•Discuss real-world examples of marine insurance contracts.

Week

10

Module 2: Contractual Terms

9h

Unit 1: Conditions and Warranties

9 study hours

•Review Module 2 key concepts and definitions.
•Complete practice questions on contractual terms.
•Discuss real-world examples of conditions and warranties.

Week

11

Module 3: Marine Insurance Intermediaries

9h

Unit 1: Intermediaries

9 study hours

•Review Module 3 key concepts and definitions.
•Complete practice questions on marine insurance intermediaries.
•Discuss real-world examples of intermediaries.

Week

12

Module 4: Assignment of Marien Insurance Policy

9h

Unit 1: Assignment of Marine Insurance Policy

9 study hours

•Review Module 4 key concepts and definitions.
•Complete practice questions on assignment of marine insurance policy.
•Discuss real-world examples of assignment.

Week

13

Module 5: Obligations of Parties to Marine Insurance Contracts

9h

Unit 1: Rights of the Assured

9 study hours

•Comprehensive review of all modules and units.
•Mock exam and review of answers.
•Final preparation for the examination.

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.

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Study Tips & Exam Preparation

Expert tips to help you succeed in this course

1

Create detailed outlines for each module, focusing on key definitions and legal principles.

2

Practice applying legal concepts to hypothetical scenarios involving marine insurance claims.

3

Review case studies to understand how courts have interpreted marine insurance policies.

4

Focus on understanding the Marine Insurance Act 2004 and its implications.

5

Create concept maps linking Units 3-5 database concepts

6

Practice SQL queries from Units 7-9 weekly

7

Prioritize understanding the rights and obligations of both the assured and the insurer.

8

Pay close attention to the conditions and warranties discussed in Module 2, as they are crucial for exam questions.

9

Review all self-assessment exercises and tutor-marked assignments to identify areas for improvement.

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