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Introduction to Protection and Indemnity Insurance (2 days)

From Wednesday 10 August 2022 -  10:00am
To Thursday 11 August 2022 - 05:00pm
      

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Virtual option only

About the AIMU Virtual Classroom
AIMU utilizes the GoToWebinar and GoToTraining platforms, which allow full attendee engagement through Q&A and chat panels, and interactive polling with video engaged for all instructors. Attendees can ask questions in real time and share experience and information with other students in the class. All classes are instructed by subject matter experts who are leaders in their individual fields. Each class is designed with 50-minutes of instruction followed by a 10-minute break, as well as a one-hour lunch break for a full-day class.

Overview:  Learn about the exposures to Liability for injury or death to crew and passengers, vessel owners liability to shore workers, miscellaneous liabilities for death and injury. Study the P & I policy insuring agreement, additional exclusions and limitations, underwriting and claims provisions.  

Who Should Attend: Underwriters, claims personnel, investigators, maritime shipowners, attorneys, insurance agents and brokers.

Instructors:
Tracy Kiffer, VP - US Marine, The Hartford
Mark Phillips, VP, Liberty Mutual Ocean Marine 
Steve Rible, Partner, Kennedys
Andrew Kinsey, Senior Account Engineer, Liberty Mutual Insurance

Continuing Education Credits: 
NAMS: 12 Credits SAMS: 12 Credits

State Insurance Departments
12 credits in NY, NJ 

COURSE OUTLINE

PART I - P & I INSURANCE POLICY

Introduction and Development of Protection & Indemnity Coverage
1. Brief History (advent of coverage in the U.K.)
2. Merchant Marine Act of 1920 (Jones Act)
3. Explanation of Fixed Cost P&I versus P&I Clubs
4. Types of use for the different forms 

Protection and Indemnity Clauses SP-23 (revised 1/56)
1. Coverages Provided
-Loss of Life / Personal Injury
-Maintenance and Cure
-Third Party Liabilities
-Wreck Removal

2. Form Exclusions
-War Risks
-Towing

3. Common Endorsements
- Punitive Damages Exclusion
- Pollution Exclusion
- Nuclear Exclusion
- Diving Exclusion
- AIMU Chemical, Bio-Chemical and Electromagnetic Exclusion
- AIMU Radioactive Contamination Exclusion
- International Economic and Trade Sanctions Clause (OFAC)

Protection and Indemnity Clauses - SP 38

AIMU Protection and Indemnity Clauses

Coverage Comparison - AIMU P&I Clauses vs. other P&I Insuring Forms

 

PART II - UNDERWRITING CONSIDERATIONS

-Class Categories
-Geographic Territories
-Importance of Financials
-Large Loss Potential
-Inherent Hazards
-External Exposures
-Management
-Account Experience
-Economies Environment

 
PART III - CLAIMS ADMINISTRATION 

-Policy Coverage
-Insured & Policy Forms
-Types of Claimants
-Loss Investigation & Adjusting

 PART IV - LOSS PREVENTION AND CONTROL

-When to use a Marine Surveyor
-Types of Surveys
-Criteria for Selecting a Surveyor
-Reporting Criteria
-What to expect from the Surveyor
-What the Surveyor should expect from the Underwriter 

   

Program Features: Handouts & Lecture Notes

Special Assistance In Compliance with the  American's with Disabilities Act, AIMU will make all reasonable efforts  to accommodate persons with disabilities at its meetings. Please call  John A. Miklus at (212) 233-0550

Refunds/Cancellations/Substitutions: Refund requests will be honored if received at least 48 hours prior to the scheduled start date. Cancellations received after the refund deadline and "no shows" are subject to the full registration fees. Substitutions may be made by notifying AIMU via email aimu@aimu.org. 

AIMU reserves the right to postpone, cancel, or amend a class schedule at any time.

Location virtual
Contact Elvira Rodin at erodin@aimu.org
For questions about educational credits, contact our Education/Training Specialist, Eileen Monreale
Office phone: 212-233-0550
Emails: emonreale@aimu.org