Study-Unit Description

Study-Unit Description


CODE INS5013

 
TITLE Advanced Classes of Insurance 2

 
LEVEL 05 - Postgraduate Modular Diploma or Degree Course

 
ECTS CREDITS 10

 
DEPARTMENT Insurance

 
DESCRIPTION This study-unit will cover features of policy cover, exclusions, extensions and other related terms and conditions related to material damage policies particularly Property, Construction, Engineering together with the corresponding, related Business interruption policies, Marine, Goods in Transit and Commercial Motor insurance. It will delve deeply into the following specialised classes of insurance, basic principles as applicable to the various classes together with relevant clauses and extensions.

Study-unit Aims:

The aim of this unit is:
i) To provide students with the knowledge and understanding of commercial lines insurances including particular underwriting and claims aspects practices;
ii) To familiarise students with different policy wording and clauses including policy exclusions and applicable endorsements.

Learning Outcomes:

1. Knowledge & Understanding
By the end of the study-unit the student will be able to:
- Appraise and report on the various operational practices related to Property, Construction, Engineering, Business Interruption risks and Liability Insurance;
- Describe and report on the extent of cover afforded by these policies;
- Explain the various operational practices related to these policies;
- Define the extent of cover afforded by these policies.

2. Skills
By the end of the study-unit the student will be able to:

- Interpret different motor and marine insurance policies;
- Explain the various wording, terms and provisions of motor and marine policies;
- Explain the intention of the various sections of cover and exclusions;
- Distinguish between different material damage insurance policies;
- Analyse and evaluate the various wording, terms and provisions of property policies;
- Explain the intention of the various sections of cover and exclusions.

Main Text/s and any supplementary readings:

Main Text

Chartered Insurance Institute, 2017. M21 Commercial insurance contract wording. London: CII
Chartered Insurance Institute, 2017. M90 Cargo and goods in transit insurances. London: CII
Chartered Insurance Institute, 2017. M93 Commercial property & business interruption insurances London: CII
Chartered Insurance Institute, 2017. M94 Motor insurance. London: CII
Chartered Insurance Institute, 2017. M96 Liability Insurance. London: CII
Chartered Insurance Institute, 2017. M98 Marine hull and associated liabilities. London: CII

Supplementary Text

Munkman, J. (1979), Employers Liability at Common Law Butterworths 1979
James. P.S. (1989). Introduction to English Law (12th edition) Philip S James Butterworths 1989 Part II Section 11 – Introduction to The Law of Torts
Clark, A.M. (1979). Product Liability Alistair M Clark London Sweet & Maxwell 1979
Parsons, (2001). C ‘Managerial liability, risk and insurance: an international view’ International and Comparative Corporate Law Journal Vol. 3 Issue 1 2001 pp. 27-57
Parsons, C, (2002.) ‘An essay on accident compensation and five papers on liability insurance’ 2002
Parsons, C. (2002) ‘From accident to liability: a brief history of liability insurance’, Journal of Insurance Research and Practice, vol. 17, part 2 (July 2002)
Parsons, C., (2000). ‘Directors’ and officers’ liability insurance: a target or a shield?’ The Company Lawyer, March 2000
Parsons, C. (2000). ‘Liability rules, compensation systems and safety at work in Europe’ Geneva Papers on Risk and Insurance
Parsons, C.,(1999). ‘Employers’ liability insurance: how secure is the system?’ Industrial Law Journal, June 1999
Parsons, C., (2001). ‘Liability, compensation and insurance for psychiatric injury’ Journal of Insurance Research and Practice. January 2001 pp. 14-26
Parsons, C., (1999). Industrial injuries and employers’ liability: a search for the cure (CII, 1999)

 
STUDY-UNIT TYPE Lecture

 
METHOD OF ASSESSMENT
Assessment Component/s Assessment Due Resit Availability Weighting
Assignment SEM2 Yes 30%
Examination (2 Hours) SEM2 Yes 70%
Important - Due to the COVID19 Pandemic the information regarding the method of assessment indicated above may have been changed. Further details have been provided by your F/I/C/S.

 
LECTURER/S Norbert Cordina
Simon Grima (Co-ord.)
Ramon Mizzi
Lawrence Pavia
Francis Valletta

 
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 study-unit description above applies to the academic year 2019/0, if study-unit is available during this academic year, and may be subject to change in subsequent years.

https://www.um.edu.mt/course/studyunit