| CODE | INS3019 | ||||||||
| TITLE | Commercial Lines Insurance 2 | ||||||||
| UM LEVEL | 03 - Years 2, 3, 4 in Modular Undergraduate Course | ||||||||
| MQF LEVEL | 6 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Insurance and Risk Management | ||||||||
| DESCRIPTION | This unit will provide the student with product-based information of a variety of commercial lines insurance policies. The unit will cover features of policy cover, exclusions, extensions and other related terms and conditions. A brief overview of general underwriting and claims processes will also feature. The following will be the classes tackled: Business interruption insurance; liability insurance; Commercial vehicle insurance; Marine Hull and Cargo insurance; Fidelity Guarantee and Credit insurance. Study-unit Aims: This unit aims to provide students with a general understanding of the policy aspects of the following commercial lines products: Business interruption insurance; liability insurance; Commercial vehicle insurance; Marine Hull and Cargo insurance; Fidelity Guarantee and Credit insurance. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: a) obtain a general knowledge of Commercial Lines Insurance products and services which include products such as: • Business interruption insurance; • liability insurance; • Commercial vehicle insurance; • Marine Hull and Cargo insurance; • Fidelity Guarantee and Credit insurance. b) obtain a general knowledge of how Commercial lines protect businesses against potentially devastating financial losses caused by accidents, lawsuits, natural disasters and other adverse events; c) obtain a general knowledge of the coverage available and premium costs and how they vary by business type, size, and location. 2. Skills By the end of the study-unit the student will be able to: - read and interpret different commercial lines insurance policies; - explain the various wording, terms and provisions of the policies; - provide explanation of the intention of the various sections of cover and exclusions. Main Text/s and any supplementary readings: Recommended Text: - Commercial Insurance - The Chartered Insurance Institute (2016) Supplementary Text: - Principles of Property Insurances (BI section under Chapter 4) – The Chartered Insurance Institute - Property Insurance by P. Wildman (P25) – The Chartered Insurance Institute - Business Interruption Insurance by R.M. Walmsley (P30) – The Chartered Insurance Institute - Fire Insurance Theory and Practice by Edwin Gamlen and Harold Francis Objectives: - Employers Liability at Common Law John Munkman Butterworths 1979 - Introduction to English Law (12th edition) Philip S James Butterworths 1989 Part II Section 11 – Introduction to The Law of Torts - Product Liability Alistair M Clark London Sweet & Maxwell 1979 - Professional Indemnity – It’s Applicability to the Accountancy Profession - Law of Marine Insurance By Susan Hodges (Cavendish Publishing Limited) - The Institute Clauses Handbook By N.G. Hudson & JC Allen (Lloyd’s of London Press Ltd) - The Principles of Marine Insurance By H.A. Turner & EV Alexander (Stone & Cox Publications) - Chalmers’ Marine Insurance Act, 1906 By E.R. Hardy Ivany (Butterworths) - P&I Clubs – Law and Practice By Steven J. Hazelwood (Lloyd’s of London Press Ltd) - Reference Book of Marine Insurance Clauses (Witherby Publishing) - Marine Insurance Claims By J. Kenneth Goodacre (Witherby Publishing) - Surveying Marine Damage By Captain CB Thompson (Witherby Publishing) - Scrutton on Charterparties & Bills of Lading By Mocatta, Mustill & Boyd (Sweet & Maxwell) - The CMR by Alan E. Donald (Derek Beattie Publishing) - Insurance Law: Doctrines & Principles By John Lowry & Philip Rawlings (Hart Publishing) - The Law and Practice of International Trade by Clive M Schmitthoff (Stevens and Sons – London) - Insurance and Cargo Claims by Michael Scriha (Law Thesis 1983) - Aviation Liability and its insurance – Marisa Esposito (Law Thesis 1981) - Containerisation and legal implication of carriage on deck – Kenneth P Grima (Law Thesis 1981) - Incoterms – international Chamber of Commerce - Paris |
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| STUDY-UNIT TYPE | Lecture | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Norbert Cordina Andre Farrugia (Co-ord.) Ramon Mizzi Francis Valletta |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2023/4. It may be subject to change in subsequent years. |
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