1 Platonos & 18 Sotiros Dios,
Piraeus, Attiki, 185 35, Greece

(+30) 210 412 5945
info@helmc.com

Marine Insurance

Dates:

07, 11, 13, 18, 20, 26, 27 February & 04, 06 March

Duration:

9 Sessions

Hours:

19:30 – 21:30 (GMT+02)

Fees:

600 EUR
(Including tuition fees & reading material)
ICS Members are eligible to a discount 20% on all HMC Professional Maritime Seminars

Embark on a comprehensive journey through the crucial aspects of marine insurance with our online course. This program offers a practical approach, incorporating case studies and workshops to provide participants with a thorough understanding of key topics. From market structures to claims handling and general average concepts, this course ensures a well-rounded exploration of marine insurance.

LEARNING METHOD

This seminar will offer participants the flexibility to join either in-person at the Hellenic Management Centre or online, ensuring a convenient and enriching learning experience for all.

Download a Brochure

DOWNLOAD

Apply for the Seminar here

1. The Marine Insurance Market:

  • Reasons for and application of marine insurance in shipping business
  • Division of the market between Lloyds, Insurance Companies, and P&I Clubs
  • Organizational structures of respective entities
  • The concept of mutuality in P&I Associations
  • Role and function of an insurance broker
  • Classes of risk covered by marine insurance

2. The Principles of Marine Insurance:

  • Marine Insurance Act, 1906 (England): role, functions & perils covered
  • Insurable interest and utmost good faith
  • Practice of re-insurance
  • Assignment of rights and benefits under the contract

3. The Principles of Marine Insurance (cont.):

  • Determination of insurable value
  • Liability to the insurer for total & partial loss, apportionment
  • Subrogation: How the insurer becomes entitled to the insured property
  • Warranties, breach of warranty, implied warranty of seaworthiness
  • Losses & proximate clause
  • Perils excluded from the policy

4. The Practice of Marine Insurance:

  • Procedures and documentation
  • Assessment & application of premiums
  • Insurance brokers’ remuneration by commission
  • Time & voyage policies
  • Use of open cover
  • Institute (ILU) Clauses

5. Claims:

  • Total loss (actual and constructive)
  • Particular average vs. General Average
  • Mitigation of loss (sue & labour)
  • Salvage and salvage services’ remuneration
  • Limitation of liability in the case of Third-Party claims
  • Professional indemnity insurance: role and importance
  • Impact of international pollution legislation on marine insurance

6. General Average:

  • Concept of General Average (GA)
  • York-Antwerp Rules: role and function
  • What is admissible in a GA settlement
  • Coverage of GA contributions under marine insurance policies

Case Studies:

Explore real-world scenarios to enhance your understanding of marine insurance concepts.

Operators, Commercial Managers, Charterers, Ship Masters & Chief Officers, Marine Insurance & Claims Executives, Adjusters, Shipowners, P&I Claims Executives, Brokers, Lawyers

Tutors

  • George Margaritopoulos
    Associate Director, Richards Hogg Lindley (RHL)

    Paraskevas Kousounadis is a Chartered Certified Accountant with extensive shipping experience in accounting and finance. He is presently employed as a Finance Manager by a long-established Greek ship management company. He holds a BSc (Hons) degree in Applied Accounting, as well as in Biomedical Sciences. He is a Fellow member of the Institute of Chartered Shipbrokers (ICS), the Association of Chartered Certified Accountants (FCCA), the FCCA Greek Advisory Committee, the Institute of Certified Public Accountants of Greece, the Economic Chamber of Greece and the Shipping Professional Network of London. He is also a Certified Internal Auditor ISM-ISPS-MLC for Shipping Companies by DNV-GL.

    He has excellent knowledge of financial and accounting procedures, as well as a thorough understanding of financial audit and internal control systems both ashore and onboard. He teaches Shipping Accounting at HMC/ICS Greek Branch.

  • Georgia Simiakaki
    FICS, Attorney-at-Law

    Paraskevas Kousounadis is a Chartered Certified Accountant with extensive shipping experience in accounting and finance. He is presently employed as a Finance Manager by a long-established Greek ship management company. He holds a BSc (Hons) degree in Applied Accounting, as well as in Biomedical Sciences. He is a Fellow member of the Institute of Chartered Shipbrokers (ICS), the Association of Chartered Certified Accountants (FCCA), the FCCA Greek Advisory Committee, the Institute of Certified Public Accountants of Greece, the Economic Chamber of Greece and the Shipping Professional Network of London. He is also a Certified Internal Auditor ISM-ISPS-MLC for Shipping Companies by DNV-GL.

    He has excellent knowledge of financial and accounting procedures, as well as a thorough understanding of financial audit and internal control systems both ashore and onboard. He teaches Shipping Accounting at HMC/ICS Greek Branch.

  • Georgia Botsiou
    Legal Director and Insurance Manager, Shipping Company

    Paraskevas Kousounadis is a Chartered Certified Accountant with extensive shipping experience in accounting and finance. He is presently employed as a Finance Manager by a long-established Greek ship management company. He holds a BSc (Hons) degree in Applied Accounting, as well as in Biomedical Sciences. He is a Fellow member of the Institute of Chartered Shipbrokers (ICS), the Association of Chartered Certified Accountants (FCCA), the FCCA Greek Advisory Committee, the Institute of Certified Public Accountants of Greece, the Economic Chamber of Greece and the Shipping Professional Network of London. He is also a Certified Internal Auditor ISM-ISPS-MLC for Shipping Companies by DNV-GL.

    He has excellent knowledge of financial and accounting procedures, as well as a thorough understanding of financial audit and internal control systems both ashore and onboard. He teaches Shipping Accounting at HMC/ICS Greek Branch.

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