Thoroughly understand the reasons for and application of marine insurance in
shipping business.
Thoroughly understand the division of the market between Lloyds, insurance
companies and Protection & Indemnity Associations (P&I) and their respective
organisational structures
Be aware of the concept of mutuality in P&I Associations
Understand the role and function of an insurance broker.
Understand the different classes of risk covered by marine insurance
Understand the role of the Institute of London Underwriters (ILU) and the Salvage
Association.
And much more