Basic Aspects- Historical Background, Meaning & Scope- Marine Insurance & Trade- Important Institutions - LLOYDS, IUA, IUMU, IMB, FERIT, TAC, GIC, General Insurance Council, Indian Insurance Market, Laws Applicable in India, Marine Insurance Act 1906/ 1963, Salient Features, Major Provisions, Fundamental Principles, Utmost Good Faith, Insurable Interest, Indemnity, Subrogation, Abandonment, Contribution. Proximate Cause - Underwriting, Arranging for Insurance – Proposal Form, Declaration, Premium, Etc., INCOTERMS 2000, Underwriting Factors, Documents, Use of I.T. in Underwriting – Coverage. Institute Cargo Clauses- Non-Institute Clauses, - Trade and Other Clauses- Inland Clauses - types of covers- Specific, Open, Multi-Transit, Duty, Increased Value, FOB, Export Incentives, Sellers Interest, Stocks Throughput, sales Turnover, Insurance of Empty containers, Shut-out Cargo, Buyers‘ Interest, Differential Conditions, Marine Loss of Profits – International Covers – Hull Insurance; Basic principles, types of covers - Underwriting; ITC Hulls 1983, International Hull Clauses 2002 - Marine Insurance claims; Cargo claims Hull claims, GA & Salvage claims, Use of IT in Marine Claims - Recoveries; Principles of Subrogation and Abandonment, Laws Applicable, Other Provisions like Time Limitations, Monetary Aspects Etc., - Marine Insurance & Bankers; Methods of Payments in International Trade, Letter of Credit, L/C & Compliance (in Brief), UCPC 600, Article 28 - Reinsurance, Cargo Loss Prevention, Maritime Frauds & Prevention.
