• Insurance practitioners, underwriters, brokers and agents who have been handling marine cargo insurance for at least 3 years.  
• Those who wish to have a better understanding of the basic concepts of marine cargo insurance.
• Those who wish to have a thorough understanding of the coverage afforded under marine cargo insurance policies.
• Also suitable for those handling cargo insurance claims or adjusting cargo losses.

At the end of the programme, participants should be able to:

• Describe the underwriting factors that an insurer will take into account when considering any particular cargo risk proposals.
• Explain the various ways in which a cargo insurance policy can be structured including individual insurances or open covers.
• Explain the key coverages afforded within a typical cargo insurance policy wording and whether any terms can be implied therefrom.
• Explain the terms and coverage of the Institute Cargo Clauses 1/1/09, how they differ from the 1982 clauses and why the changes were introduced.
• Analyse why a cargo risk might best be covered using specialist trade clauses.
• Describe the key provisions of the main Institute trade clauses and what practical benefits they bring to both insureds and insurers.
• Explain why standard cargo insurance clauses might be amended and describe typical amendments.
• Explain why additional wording might be added to a typical cargo insurance policy, the purpose of such additional wording or clauses and the challenges faced if such clauses are not standard.
• Understand the importance of best policy drafting practices to prevent problems occurring in the future.

• Overview of what is actually being insured – the underlying business of sale and carriage of goods.
• The history of cargo insurance and the development of clauses commonly used today over the years.
• The underwriting factors in cargo risks and their impact on an underwriter’s use of certain clauses and wording.
• Institute Cargo clauses A,B, and C 1/1/09 and their respective differences from the 1982 clauses.
• Institute War and Strikes clauses.
• Trade clauses – why and when are they used.
• Other international clauses – such as US Bulk Oil Form.
• Other clauses such as Classification Clauses, Theft Pilferage and Non Delivery, Termination of Transit.
• Best policy drafting practices.
• Practical exercises on policy drafting.
• The consequences faced by claims personnel when the cargo insurance policy is not drafted or put together correctly.

Kenneth Cheong has 20 years’ experience in the marine insurance industry and has been a cargo underwriter for a major part of his time. Currently, he is the Underwriting Manager of the Marine Cargo department of a German insurer and has regional responsibilities for the Asian and Middle Eastern markets.

Full Course Fee: S$827.31 (incl. of 9% GST)