Study Guide

Objective

The aim of this study unit is to familiarize the students to theory and practical solutions of risk management; drafting a risk management plan; questions connected to seizure of vessel; limiting ship-owner’s liability; marine insurance market and its operation; relationship of vessel financing and insurance; hull insurance, war insurance, loss of hire insurance, cargo insurance, cargo interest insurance, P&I insurance, company liability insurance; crime and its prevention in maritime economy. Managing changing risks related to autonomous shipping, new fuels and cyber crime.

Students are able to
- Evaluate and plan company’s risk management and be in charge of the company’s risk management and insurance systems of the company´s fleet.
- Students have profound knowledge of different forms of insurance that are relevant to shipping.
- They also know relations and differences between different insurance systems in various insurance markets.
- Assess the impact of new fuels and autonomous shipping risk analyses and management of cyber risks in changing shipping environment.

Content

- Theory and practical solutions of risk management;
- Drafting a risk management plan; questions connected to seizure of vessel; limiting ship-owner’s liability;
- Marine insurance market and its operation; relationship of vessel financing and insurance
- Hull insurance, war insurance, loss of hire insurance, cargo insurance, cargo interest insurance, P&I insurance, company liability insurance;
- Crime and its prevention in maritime economy.
- Managing changing risks related to autonomous shipping, new fuels and cybercrime.

Qualifications

Common Advanced Professional Studies 10 ECTS and Agreed Documents and International Maritime Treaty Obligations 5 cr have to be completed before attending.

Assessment criteria, satisfactory (1)

Reports and/or assignments handed in according to timelines and if required orally presented. The materials at an approvable level of quality. Student's activity at an acceptable level.

Assessment criteria, good (3)

Good work input overall: Reports and/or assignments handed in according to timelines and if required presented. All materials of high quality. Good activity in the class, eg at the discussions and presentations.

Assessment criteria, excellent (5)

Exceptional quality overall: the written Reports and/or assignments, presentations, student activity.

Assessment criteria, approved/failed

A Report / Reports / assignments not handed in or an unacceptable level of quality (including missed DLs) of the reports and/or presentations.