Learning outcomes

Assessment criteria for pass

To achieve each outcome a learner must demonstrate the ability to:

1 Outline the principles of marine insurance and the marine insurance market

·      Explain the rationale and principles of marine insurance

·        Outline the key elements in the marine insurance market

2 Differentiate between the various types of insurance in the marine environment

·        Discuss the different types of insurance in the marine environment

·        Recommend appropriate cover for vessels according to vessel type, voyage and cargo

3 Explain claims procedures

·        Explain how claims are prepared and presented

·        Prepare a draft claim 

4  Explain the principles of Salvage and General Average

·        Outline the fundamental principles of salvage and remuneration

·        Explain what is meant by General Average