Welcome to IUMI’s Masterclass in Cargo Insurance!
This unique qualification programme has been designed by cargo insurance specialists to offer an exclusive opportunity to deep dive into key concepts of this class of business.
Gain insights into contracts of affreightment, international programmes, coverage extensions, CAT risks/accumulation, ESG/sustainability, and geopolitics:
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Delivered by top level industry experts
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Opportunity to learn & network
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Comprehensive overview for senior underwriters
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3.5 days programme including two evening events
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Limited spaces available
London, October 2024 -- registration opens soon
Module A: Contracts of affreightment
- Introduction to carriage of goods
- Contracts of carriage
- Sea freight
- Air freight
- Case study
Module B: International programmes
- Definition & key actors
- Putting together an international programme
- Structure of international programmes
- Non-admitted policy: "Non-Admitted but Permitted" vs "Non-Admitted Non Permitted"
- Local policies - insurance conditions / critical topics
- Financial interest - DIC/DIL - Reverse DIC: Additional clauses to master policy
- Insurance premium taxes
- Local policies reinsurance
- Group exercise: Master DIC/DIL coverage on local policy loss
Module C: Coverage extensions
- Static cover storage misappropriation
- Brands / control of damaged goods
- Understanding clauses
- Case study: Clause wordings
- Understanding frequently used non-institute clauses including their interpretations and implications
Module D: CAT risks/accumulation & ESG
- Understanding the fundamentals of nat cat modelling
- Limitations of nat cat modelling
- Change of insured assets
- Sustainability of clients and industries
- ESG issues with impact on cargo insurance
- Relevant ESG initiatives & legislation
Module E: Geopolitical aspects
Security threats to shipping
- The basics of war risk insurance
- Maritime security hotspots
- Modern piracy
- Cyber risks
- Considerations from an underwriter's perspective
Sanctions & protectionism
- Current rules and regulations
- Due diligence
- Trade credit rejection risk
- Risks when breaching sanctions
Plus: Site visit & networking
- Lloyd’s of London
- Meeting with representatives of Lloyd’s Market Association & Joint Cargo Committee
- Special dinner with high-level keynote speeches
- Networking reception
The course is suitable for senior practicing underwriters with significant experience in cargo underwriting who want to gain a greater knowledge of their business. The programme will help delegates to acquire new insights and to expand their knowledge in key concepts and topics relevant to senior underwriters:
- Contracts of affreightment
- International programmes
- Coverage extensions
- CAT risks/accumulation & ESG
- Geopolitical aspects
The aim of the course is to enable attendees to anticipate and navigate the more complex and challenging aspects of cargo underwriting successfully.
IUMI members*
Early bird fee:
€2,250 + VAT
Regular fee:
€2,490 + VAT
*Employees of companies who are a member of one of IUMI's member associations, employees of IUMI Professional Partners (IPPs), employees of IUMI affiliates)
Non-members
Regular fee: €3,490 + VAT
The participants fee covers all course materials, access to the digital learning space, refreshments throughout the day, including a mid-day lunch on each course day, one 3-course presentation dinner and a drinks reception.
Travel, accommodation and related expenses are borne by the delegates.
Questions
To discuss any aspecst of the Masterclass please contact Hendrike Kühl at hendrike.kuehl@iumi.com or call +49 40 2000 747 25.
To register interest for the October 2024 Masterclass please fill in this form.