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IUMI Online Hull Tutorial

Non member: €1,040.00
Member: €650.00


Buy 5-9 tutorials, get a 10% discount.
Buy 10+ tutorials, get a 30% discount.

Product Description

The IUMI online hull tutorial is tailored specifically for intermediate level hull underwriters who wish to deepen their knowledge and expertise in hull insurance. The course is also suitable for all maritime professionals with an interest in marine insurance such as maritime lawyers and surveyors. Students can start the self-paced learning programme at any point in time. We are proud to announce that this course is Continuing Professional Development (CPD) certified. CPD is the term used to describe the learning activities professionals engage in to develop and enhance their skills and abilities. Students can request a certificate upon completion of this online course to request accreditation from their national professional development schemes. We certify 30 hours for this Hull tutorial.

The online tutorial consists of 13 modules, all set up in an engaging and interactive fashion. Throughout the course American, English, German, and Nordic Plan policy wordings are compared and contrasted: 

 

  1. Ships 101
  2. Particular average including sue and labour
  3. Collision liability
  4. General Average and Salvage
  5. Exclusions
  6. War and strikes
  7. Operational considerations
  8. Claims
  9. Additional insurances
  10. Additional clauses
  11. Loss of hire
  12. Mortgagees’ interest insurance
  13. Builders’ risk

 

 

The estimated time to work through all 13 modules is 70-80 hours. More detailed information about the content of the various modules is available in this brochure.

 

To get a better understanding of how the online tutorial works in practice you can check out this free trial of module 1: "Ships 101".

 

Level of experience the tutorial is aimed for

The way the online course has been set up, it is suitable for young underwriters who are new in the industry and who have no knowledge at all. Ideally, they use the student activities in particular to gain greater knowledge of their own business.

Individuals who will gain most from the hull tutorial are those who have approx. 3-5 years experience and have had some exposure to the book of business that their insurer is writing. For them the opportunity to ask questions and think about what they are actually seeing and doing within their own organisation will be greater and they will derive a different benefit overall through application and reinforcement of knowledge as well as merely gaining knowledge afresh.

The tutorial can also be viewed as a relevant source of information even for senior underwriters who wish a brief refresh on a single topic of the 13 modules.  

 

Exam & bursary for WMU postgrad diploma

Students can choose to take an examination at the end of the 13 modules. Given the rigour of the qualification, candidates are advised to thoroughly work through all tutorial modules prior to the exam and to study about 90 hours to be sufficiently prepared. An additional fee of EUR 90.00 will be charged to students who wish to sit the exam. Candidates who choose to take the exam and who pass it will be awarded a certificate from IUMI which includes their score. The exam consists of 90 multiple-choice questions which have to be completed within 2.5 hours. The pass mark for the exam is 65%. Students achieving 90% or higher are awarded a certificate with distinction. The exam is an online examination which will be remotely invigilated by an exam supervisor and a webcam is required to sit the exam. The exam can be taken quarterly: March, June, September, December. Candidates who successfully pass the exam are invited to apply for an IUMI bursary for the Marine Insurance Law & Practice Postgraduate Diploma offered by the World Maritime University.

The exam license must be purchased two weeks prior the exam date. Sample questions are available HERE.

 

Reduced fee for IUMI members

IUMI members will be granted the lower fee of EUR 650.00 when they register on the IUMI Shop and choose their respective membership category. IUMI members are:

When you register in the IUMI Shop for the first time, you will need to create a personal account linked to your individual email address. Please note that the login details provided by your member association for the IUMI website cannot be used for the IUMI Shop. 

 

Learning Objectives

  • Describe different types of ships and their risk profiles.
  • Explain the cover and exclusions under a typical hull and machinery policy (including collision liability) and discuss the differences between various policy forms.
  • Describe the concepts of Salvage and General Average and how insurers assist the clients with these exposures.
  • Explain the cover and exclusions under war and strikes policies.
  • Analyse the various operational factors relating to a vessel that are important to insurers.
  • Discuss how hull claims are handled and adjusted including recovery potential.
  • Analyse the reasons why hull insurers might want to restrict additional insurances purchased, and discuss what additional insurances can be purchased.
  • Analyse typical additional clauses which can be suggested either by insurers or brokers/insured.
  • Explain loss of hire insurance and how it interfaces with hull and machinery.
  • Explain the role of a bank in relation to hull and machinery insurance, and discuss the insurance products available to the banks themselves.
  • Explain the terms of a builders’ risk insurance including coverage, exclusion, duration and identity of insured.

 

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