Marine

The essentials of marine insurance

July 5 - July 9 2021
Munich Re training centre, Munich

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General description

While global fleet growth has slowed lately, seaborne trade is believed to have grown again in 2019, topping the +/- 11bn tons of 2018 – and accounting for roughly two thirds of global cargo.

Cargo rate pressure, increasing on-board value accumulations, the impact of digitalization and from cyber or prospective developments such as “Arctic seaways” or “autonomous shipping”: the list of influencing factors on marine underwriting presents challenges for primary insurers and reinsurers alike. But we believe there are also promising aspects.

Munich Re has had a clear commitment to marine business over many decades, and this seminar gives participants an opportunity to acquaint themselves with selected aspects of marine primary insurance and reinsurance as a basis for traditional and present-day marine underwriting.

The seminar, run by dedicated operational staff from Munich Re’s “Global Marine Partnership” team, offers presentations, exercises and case studies – sometimes in working group format. The guiding theme is the lifecycle of an ocean-going vessel and the insurance risks involved in its construction, seagoing life (hull, cargo, liability) and ultimate break-up.

Content

  • Shipbuilding risks
  • Ocean hull insurance and mega yachts
  • Cargo risks: transportation, manuscript wordings/clauses, current issues
  • P&I insurance and other marine liabilities
  • Loss prevention
  • Terrorism / political violence / war
  • Energy
  • Cyber
  • Sanctions
  • Legal: RI wordings, conventions, claims

Reinsurance

  • General marine reinsurance know-how (types of reinsurance, pricing, conditions)
  • Markets and players
  • Pricing approaches
  • Accumulation

Level

Target group

Insurance professionals with initial/deepening responsibility for marine business and some years’ experience in underwriting.

Language

English – Professional business English skills required

Date

5 – 9 July 2021

Location

Munich Re training centre, Munich, Germany

Deadline for registration

30 April 2021