DRIVING PROFESSIONAL STANDARDS

DRIVING PROFESSIONAL STANDARDS
2015 MII PROGRAMME DIRECTORY
MARINE &
AVIATION
INSURANCE
These courses are created to enable participants
to develop a comprehensive understanding on
important areas of Marine & Aviation Insurance in a
reasonably short time frame.
Title
3.07 Uncovering the mystery of Upstream Oil & Gas Industry and how to position
an insurer/broker/adjuster & Insured’s interest in this highly volatile business
Duration
Time
Title
3.08 A Comprehensive Course in Marine Hull Insurance
Duration
Time
2 Days 9.00 am to 5.00 pm
Venue
Who Should
Attend
Key Learning
Outcomes
About the
Course
Key Course
Contents
2 Days 9.00 am to 5.00 pm
The Malaysian Insurance Institute City Centre
Suite 6.0W, 6th Floor, Wisma Sime Darby, Jalan Raja Laut, 50350 Kuala Lumpur, Malaysia.
The course is designed for delegates who are unfamiliar with Upstream Oil & Gas industry and who requires
some basic understanding of the insurance requirement associated with the activities.
Regulators, Marketing Officers, Underwriters, Agents who are keen to understand the challenges in the Oil &
Gas industry and explore the opportunity in this sector.
Basic knowledge of Insurance and Reinsurance is required.
Upon Completion of the course, participants will have gained the following:
• Good understanding of the Upstream business
• Realize the risks associated with the business
• Types of insurance to be procured at each phase of the business
• Basic knowledge on the rating methodology
• Uncover the opportunities available in this sector
• Gear the company towards understanding the risks
This course is designed to provide participants a thorough comprehension of oil & gas insurance coverage
and most essential skills to have when it comes to effective contract risk management. This is an enhanced
programme where the trainer will take the participants through a comprehensive review of a typical contract
and equip the participants with the requisite knowledge to advise their customers.
Upon completion of the course, participants would be able to appreciate:-
• The Malaysian Oil & Gas Environment
• What the Oil & Gas business is all about
• The Key features of a major insurance programme
• How the multiple risk exposures are covered
• A typical Risk Management Philosophy and the risk management/insurance process
• The intricacies of Oil & Gas Contracting
• Overview of Upstream Oil & Gas Industry
• Role of Regulatory Authority/Leasehold/Contractor/Sub-contractor
• Concept of Production Sharing Agreement
• Understanding the different insurance needs during Exploration/Development/production phase of business
• Contractual obligations of all the parties involved
• Underwriting Considerations
• Challenges in handling claims
FEES
LOCAL
RM 2,100
INTERNATIONAL
USD 700
Venue
Key Learning
Outcomes
Key Course
Contents
The Malaysian Insurance Institute City Centre
Suite 6.0W, 6th Floor, Wisma Sime Darby, Jalan Raja Laut, 50350 Kuala Lumpur, Malaysia.
1. To provide participants with a fundamental knowledge of Marine Hull Insurance and under standing of
the regulatory requirements.
2. To introduce the various types of covers available to the ship-owners and in-depth study of each cover.
3. To give the participants insight into the main underwriting factors that determine pricing and risk acceptance.
4. Understand the main market extension clauses, endorsements and warranties applicable.
5. Brief insight into Hull Claims Procedure.
Day 1
• Development of Marine insurance
• Evolution of Marine Vessels
• Marine Insurance Principles
- Marine Law
- Marine Insurance Act
• Market Hull Experience/Statistic–international/
local Markets
• Overview of Marine Markets
- Overseas Markets
- Local Market
• Local Regulatory Requirements
- BNM requirements
- LSR Scheme
• International Regulations/Conventions affecting
Hull Insurance
- ISM Code
Introduce to Marine Hull Risks
a) Hull and Machinery
b) Increased Value/Disbursements
c) War Risks
d) Loss of Earnings/Hire (LOH)
e) Mortgagees Interest Insurance
f) Builders All Risks
g) Shiprepairers Legal Liability
h) Protection and Indemnity
• Insurance Application Process (Proposal Forms/
Questionnaires)
• Underwriting and Essential Pricing Factors
FEES
LOCAL
RM1,600
INTERNATIONAL
USD 550
Day 2
• Scope of Main Institute Hull Clauses
a) Institute Time Clauses Hulls 1/10/83
- Brief comparison between ITC Hulls 1/10/83
and ITC Hulls 1/11/95
b) Institute Time ClausesTotal Loss, General
Average and 3/4ths Collision Liability
(including Salvage, Salvage changes and Sue
and Labour Hulls 1/10/83)
c) Institute Time Clauses – Total Loss Only
(including Salvage, Salvage changes and Sue
and Labour Hulls 1/10/83)
d) Institute Time Clauses – Disbursements and
Increased Value (Total Loss Only including
Excess Liabilities 1/10/83
e) Institute Additional Perils Clauses 1/10/83
f) Institute Machinery Damage Additional
Deductible Clauses 1/10/83
g) Additional Deductible Adaptation
Clause1/10/83
h) Institute War & Strikes Clauses
- Piracy & terrorism
i) Institute Martgagees Interest Clauses Hulls
j) Institute Clauses for Builder Risks
• Market Extention & Exclusive Clauses & Warranties
applied Claims Handling Precedures
- Role of Surveyor
- Role of Average Adjuster
- Handling of large Claims
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