Marine Insurance - Unit 4
Outcomes and assessment requirements
Learning outcomes |
Assessment criteria for pass |
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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
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· 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
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· Explain how claims are prepared and presented
· Prepare a draft claim |
4 Explain the principles of Salvage and General Average
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· Outline the fundamental principles of salvage and remuneration
· Explain what is meant by General Average |
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