Marine Insurance - ICS Exam Preparation
ICS Tutorship, Demo
12:00:00
Capt. Naresh Kumar
Free Lessons
Are you an aspiring shipbroker, a seafarer transitioning ashore, or a maritime professional seeking a clear, exam-focused understanding of Marine Insurance? This Marine Insurance ICS course, led by Capt. Naresh Kumar, is a comprehensive, video-based learning programme designed to help candidates succeed in the Institute of Chartered Shipbrokers (ICS) examinations. This course simplifies complex marine insurance concepts through practical explanations and real-world examples and is delivered through 10 detailed video chapters. It covers the entire official ICS Marine Insurance syllabus, ensuring thorough preparation for the ICS Marine Insurance exam.
What You Will Learn
Fundamentals of Marine Insurance
Gain a strong foundation in marine insurance fundamentals, including a historical overview of the London insurance market and Lloyd’s of London, essential for understanding modern marine insurance practices.
Key Players and Policy Formation
Understand the roles of insurers, brokers, assureds, and underwriters, along with the complete marine insurance policy formation process.
Core Principles of Marine Insurance
Develop an in-depth understanding of the principles governing marine insurance, including particular average, total loss declarations, Sue & Labour charges, and measures of indemnity, all explained in line with ICS exam expectations.
Advanced Marine Insurance Topics
Explore advanced areas such as third-party and collision liability, General Average, and different types of marine insurance policies, including floating policies and open cover policies.
Essential Clauses and Claims
Receive detailed instruction on key marine insurance clauses, including cargo clauses, war clauses, time and voyage policies, and International Hull Clauses, along with claims provisions and strike clauses frequently tested in the ICS Marine Insurance paper.
Bonus Content (ICS Legal Frameworks)
To strengthen legal understanding, the course includes bonus videos covering critical marine insurance laws and conventions, including:
- York Antwerp Rules 1994
- Marine Insurance Act 1906
- Gambling Policies Act 1909
- Institute Malicious Damage Clause
- Classification Clauses 2001
These topics are especially valuable for handling law-based and application-oriented questions in the ICS Marine Insurance examination.
What You'll Learn
- Fundamentals: Dive into the basics of marine insurance, including a historical look at the London insurance market and Lloyd’s.
- Key Players: Understand the roles of all stakeholders, including insurers and brokers, and the process of creating a policy.
- Core Principles: Get an in-depth look at the governing principles of marine insurance, from particular average and total loss declarations to Sue & Labour charges and measures of indemnity.
- Advanced Topics: Explore complex areas like third-party and collision liability, General Average, and various policy types, including floating and open cover policies.
- Essential Clauses: The course provides detailed instruction on cargo, war, time, and International Hull clauses, along with claims provisions and strike clauses.
- Bonus Content: Gain a deeper understanding of critical legal frameworks with bonus videos on the York Antwerp Rules 1994, the Marine Insurance Act 1906, and the Gambling Policies Act 1909. You’ll also learn about the Institute Malicious Damage Clause and Classification Clauses 2001.
The program also includes dedicated videos on exam preparation, offering guidance on how to structure your answers and focus on key topics to maximize your score. By the end of this course, you will have the knowledge and confidence needed to succeed in your ICS exam and build a successful career in marine insurance.
Capt. Naresh Kumar
Captain Naresh Kumar is a seasoned maritime professional known for his operational expertise, resource management, business development, and strong communication skills. Starting his career in 1998 with V.Ships, he progressed through the ranks to command Handy tankers and MR2 Oil-chemical vessels by 2011.
After an 18-year sailing career, he transitioned ashore in 2016 to manage crewing operations across multiple global locations and served as General Manager at Suntech Crew Management.
In 2019, driven by entrepreneurial ambition, Captain Kumar joined Ace Insurance Brokers Pvt Ltd as Vice President - Marine, leading marine insurance portfolios including Hull & Machinery, P&I, war risks, and shipbuilder’s coverages. He maintains extensive relationships with international and national insurers.
Outside of work, he is a poet and is writing a self-development book scheduled for release in June 2026.
Rating:
Price:
₹ 14999
Language:
Length:
12:00:00
Intended for:
Seafarer, Ship Broker, Maritime Professional
Reference:
Topics:
12 Sections . 46 lectures . 11h 13m total length
19 min
1.1 Chapter 1 | Introduction to Marine insurance
Introduction to Marine insurance, Basics of the Marine Insurance, Need of Marine Insurance, Credit System, Global Marine insurance market
18 min
1.2 Chapter 1 | Evolution of Marine Insurance
Evolution of Marine Insurance in London, Reinsurance market in London, Key Players in London insurance market, P&I Clubs-Key Characteristics
16 min
1.3 Chapter 1 | Role of Marine Insurance Brokers
ISM and ISPS Code-Overview, Role of Marine Insurance Brokers, London market Associations
13 min
2.1 Chapter 2 | Marine Insurance Act 1906, Insurance act 2015
Marine Insurance Act 1906, Historical context, Key provisions of act, Overview of Insurance act 2015, Differences between 1906 and 2015 Acts
23 min
2.2 Chapter 2 | Role of Brokers, MRC or Policy slip
Effecting Marine Insurance, Role of Brokers, Original slip- Process steps, Broker’s cover note, MRC or Policy slip, Quote negotiations, Policy signing Process, Insurance certificates, accuracy of documents and consequences of errors
12 min
2.3 Chapter 2 | Premiums and Brokerages
Understanding Premiums and Brokerages, Responsibilities regarding Premiums, Brokerage fees and discounts, Deferred premiums/ additional premiums
25 min
2.4 Chapter 2 | Insurable Interest, Assignment of Policies
Insurable Interest, Establishing Insurable Interest, Assignment of Policies, Interest in Marine Insurance, Policy Proof of Interest (PPI), Contract of Sale (FOB,CFR, CIF)
26 min
3.1 Chapter 3 | Insurance Law, Voyage and time Insurance policies
Principles involved in Marine Insurance, Utmost good Faith, Understanding warranties in Insurance Law, Representation/Misrepresentation, Express and Implied Warranties, Seaworthiness, Voyage and time Insurance policies
26 min
3.2 Chapter 3 | Time & Voyage Insurance, Proximate Cause
Time and Voyage Insurance, Key legal provisions, Concept of delays, Excuses of delays in law, Policy coverage for Transhipment, Proximate Cause, Marine Insurance Liability, Case studies
20 min
3.3 Chapter 3 | Risk in Cargo Insurance, Statutory Exclusions
Extraneous risks in cargo Insurance, Concept of risk, Statutory Exclusions, wilful misconduct, delays, Other exclusions
14 min
3.4 Chapter 3 | Breach of Warranty, Impact of repealing
Perils Not covered, remedies for breach of warranty, Impact of repealing, Practical examples and scenarios
25 min
4.1 Chapter 4 | Excess and Deductibles, Constructive total loss
Particular Average, Excess and Deductibles, Total Loss, Constructive total loss, Ademption of loss, Case study, Merger of loss
10 min
4.2 Chapter 4 | Marine Insurance Policy, MAR policy
Marine Insurance Policy, Historical practices, MAR policy form 1982, comparison with other forms
13 min
4.3 Chapter 4 | Forms of Insurance Policies
Different forms of Insurance policies, Time Policy, Voyage Policy, Mixed Policy, Open Policy, Floating Policy, Construction Policy
14 min
4.4 Chapter 4 | Valued and Unvalued Policy, Franchises
Insured Values, Valued and Unvalued Policy, Ships & Goods (SG) policy, Franchises, Excess and deductibles, Practical Examples
16 min
5.1 Chapter 5 | Measure of Indemnity, Total and Partial loss
Measure of Indemnity, examples with Total and Partial loss, Partial loss of freight, Partial loss of goods, Salvage Loss
14 min
5.2 Chapter 5 | Sue & Labour Charges, Essential features
Sue & Labour charges, Essential features, Examples, Particular charges, comparison
9 min
5.3 Chapter 5 | Salvage Principles and Charges, Salvage awards
Salvage & Salvage Charges, Principles of Salvage awards, Life salvage, Liens & claims for freight
19 min
5.4 Chapter 5 | Salvage Agreements and Types of Claims
Services in Nature of Salvage, Salvage agreements, Valuation & Limitations for Salvage, Types of Salvage Claims, Subrogation, Application, Legal Mechanisms for Subrogation
12 min
6.1 Chapter 6 | Liability and General Average, Collision Liability
Third party Liability and General Average, Liability and responsibility, Compensation and Liability, Collision Liability, Negligence and Apportionment
10 min
6.2 Chapter 6 | Limitations and Parties Eligible, Exclusions
Limitation of Liability, Parties eligible for liability, Exclusions, Calculation examples, Both to Blame clause
10 min
6.3 Chapter 6 | Role of Surveyors and Adjusters, PII
Role of Surveyors, Role of Average adjusters, Professional Indemnity Insurance (PII), Scope of coverage
12.39 min
6.4 Chapter 6 | General Average and York Antwerp Rules
General Average, Key components, York Antwerp rules, Essentials of Gen Average, Extraordinary sacrifice or expenditure
15 min
6.5 Chapter 6 | Reasonable Approach and Jason Clause
Gen Average- Voluntary Action, Reasonable Approach, Common Adventure & Perils, Conditions for successful GA claims, Jason Clause, US COGSA (Carriage of goods at Sea Act), Implications of New Jason Clause, Recent Development IN GA
17 min
7.1 Chapter 7 | Contributing Values and Interest
General Average, Contributing interests, Contributory values, worked examples for Ship/Cargo/Freight/Containers/Bunkers, York Antwerp rules 2016
14 min
7.2 Chapter 7 | Procedure at Port of discharge
Amount made good, worked examples in relation to Ship/Cargo/Freight, Procedure at Port of discharge
12 min
7.3 Chapter 7 | GA Adjustments Overview
General Average Adjustments, Brief overview, Apportionment of GA, worked example, Application to Insurance, Final positions of Ship owners and Insurers
14 min
8.1 Chapter 8 | Overview of Cargo Insurance
Facultative Cargo Insurance, Definition and concept, Characteristics, Advantages and disadvantages, Long term cargo contracts, Floating Policy, Open covers, Common aspects of long term contracts
13 min
8.2 Chapter 8 | Introduction of Floating Policy
The Floating Policy in detail, Advantages and challenges of floating policy, Open cover policy in detail, Advantages and functionality of open cover
11 min
8.3 Chapter 8 | Clauses in Marine Insurance
Open Cover- Cancellation clause, Limit per bottom/ location, Basis of Valuation, Institute Classification Clause (2001)
7 min
8.4 Chapter 8 | Cerificate of Insurance
Certificate of Insurance-Overview, Process of Issuing and managing Certificates, Block policies, Fleet policies
16 min
9.1 Chapter 9 | Cargo Clauses and Coverage
Cargo Clauses 1.1.82, Institute Cargo Clauses, Coverage under A/ B/ C clauses, Transit Clause, Change of voyage clause, Constructive total loss clause, Increased value clause, Reasonable despatch Clause
11 min
9.2 Chapter 9 | War Risk Clauses & Gen Average
War risk clauses 1.1.82, Cargo clauses, Risk Clause, Gen Average Clause, Gen Exclusions, Unseaworthiness and unfitness exclusion, Transit clause
8 min
9.3 Chapter 9 | International navigation limits(INL)
International navigation limits(INL), Key Provisions
23 min
10.1 Chapter 10 | Time Clauses & International Hull Clauses
Time clauses, International Hull Clauses, Principal insuring conditions, Duty of assured (Sue & Labour Clause)
13 min
10.2 Chapter 10 | Claims Provisions & Time clauses
Claims Provisions, Notice of claims, Tender provisions, Duties of the assured, Dispute resolution
Time clauses-Additional clauses, Pay to be paid clause, Fixed and Floating objects, 4/4ths collision Liability, GA absorption clause, Additional perils
7 min
10.3 Chapter 10 | P&I clauses & American Hull clauses
Time Clauses-Disbursement & increased values, Institute P&I clauses- Hulls-time, Institute Freight Clauses-Time & Voyage, American Hull clauses 2009, War & Strike risks clauses- Hulls and Piracy
12 min
11.1 Q&A | Important chapters and topics
Important chapters and topics to focus for Marine Insurance exam
9 min
12.1 Bonus 1 | Marine Insurance Act 1906
Marine Insurance Act 1906- Comprehensive Overview, Key Provisions, Insurable Interest, Duty of disclosure, warranties & conditions, Constructive total loss, Gen Average, Claims and Liability procedure, Legal Frame work, Impacts & relevance
7 min
12.2 Bonus 1 | Marine Insurance Act 1909
Marine Insurance Act 1909 (Gambling Policies), definition, Prohibition, Claims Invalidity, Implications & effects
12 min
12.3 Bonus 1 | York Antwerp rules 1994
York Antwerp rules 1994, Key provisions, Gen Avg defined, contributions to GA, Allowable expenditure, Nature of sacrifices, calculation of losses, adjustment procedures, time limitation, Non GA expenses, Practical Implications,current adaption & practice, Case law & interpretation
6 min
12.4 Bonus 1 | Malicious Damage Clause
Institute Malicious Damage clause, Key components, Importance & application of the clause
9 min
12.5 Bonus 1 | Institute Classification clause 2001
Institute Classification clause 2001, Age limitation of qualifying vessels, Craft clause, National flag society, Prompt notice, Law & practice, Key responsibilities, Liability of carriers
30 min
12.6 Bonus 1 | Hull Disbursement & Increased value clauses
Hull Disbursement & Increased value (IV) clauses, Perils Covered, Excess collision Liability, Pollution Hazards, Constructive total loss, Compromised total loss, Class & ISM compliance, Navigation Provisions, Premium payment, Breach of Navigation provisions, Leading Underwriters, Notice of claims, Recoveries from third parties, Collision Liability, Fixed & floating objects, 4/4ths Collision Liability
Successful completion of this course will earn you a certificate of completion from Sea and Beyond. This certificate will be emailed to you and you could also share and show it on LinkedIn Please click on the button below to purchase the certificate.
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