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IUMI Hull Tutorial

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IUMI’s online hull tutorial is a training course tailored specifically for intermediate level hull underwriters who wish to deepen their knowledge and expertise in hull insurance. This e-learning course is also suitable for other maritime professionals with an interest in marine hull insurance such as maritime lawyers and surveyors. Students can start the self-paced learning programme at any point in time. The programme is Continuing Professional Development (CPD) certified. CPD is the term used to describe the learning activities professionals engage in to develop and enhance their skills and abilities. Students can request a certificate upon completion of this online course to apply for accreditation from their national professional development schemes. We certify 30 hours for the hull tutorial.

The online tutorial consists of 13 modules, all set up in an engaging and interactive fashion. Throughout the course American, English, German, and Nordic Plan policy wordings are compared and contrasted: 

1. Ships 101
2. Particular average including sue and labour
3. Collision liability
4. General Average and Salvage
5. Exclusions
6. War and strikes
7. Operational considerations
8. Claims
9. Additional insurances
10. Additional clauses
11. Loss of hire
12. Mortgagees’ interest insurance
13. Builders’ risk

The estimated time to work through all 13 modules is 70-80 hours. More detailed information about the content of the 13 modules is available in this brochure

A video including a live demo of the tutorial can be viewed HERE.

To get a better understanding of how the online tutorial works in practice you can check out this free trial of module 1: "Ships 101

 

Registration 

Click HERE to sign up for the hull tutorial. Since it is a flexible, self-paced learning programme there are no specific dates when the course commences and you can enrol at any time.

 

Learning Objectives

On completion of these modules you will be able to:

  • Describe different types of ships and their risk profiles.
  • Explain the cover and exclusions under a typical hull and machinery policy (including collision liability) and discuss the differences between various policy forms.
  • Describe the concepts of Salvage and General Average and how insurers assist the clients with these exposures.
  • Explain the cover and exclusions under war and strikes policies.
  • Analyse the various operational factors relating to a vessel that are important to insurers.
  • Discuss how hull claims are handled and adjusted including recovery potential.
  • Analyse the reasons why hull insurers might want to restrict additional insurances purchased, and discuss what additional insurances can be purchased.
  • Analyse  typical additional clauses which can be suggested either by insurers or brokers/insured.
  • Explain loss of hire insurance and how it interfaces with hull and machinery.
  • Explain the role of a bank in relation to hull and machinery insurance, and discuss the insurance products available to the banks themselves.
  • Explain the terms of a builders’ risk insurance including coverage, exclusion, duration and identity of insured.

 

Level of experience the tutorial is aimed for

The way the online course has been set up, it is suitable for young underwriters who are new in the industry and who have no knowledge at all. Ideally, they use the student activities in particular to gain greater knowledge of their own business.

Individuals who will gain most from the hull tutorial are those who have approx. 3-5 years experience and have had some exposure to the book of business that their insurer is writing. For them the opportunity to ask questions and think about what they are actually seeing and doing within their own organisation will be greater and they will derive a different benefit overall through application and reinforcement of knowledge as well as merely gaining knowledge afresh.

The tutorial can also be viewed as a relevant source of information even for senior underwriters who wish a brief refresh on a single topic of the 13 modules.  

 

Fees

The enrolment fee is EUR 650.00 (excl. VAT) for IUMI members and EUR 1,040.00 (excl. VAT) for non IUMI members. A discount of 10% is granted for buyers of 5-9 tutorial licenses. A discount of 20% is granted for buyers of 10 or more tutorial licenses.

An additional fee of EUR 90.00 will be charged for students who wish to take the exam and earn an IUMI certificate. The pass mark for the exam is 65%.

IUMI members will be granted the reduced membership fee when they register in the IUMI Shop and choose their respective membership category. IUMI members are:

When you register in the IUMI Shop for the first time you will need to create a personal account linked to your individual work email address. Please note that login details provided by your member association for the IUMI website cannot be used for the IUMI Shop.  

 

Hull information leaflets

 

Testimonial about the hull tutorial

Juliet Ang, Manager, Claims Services (Marine), MSIG Insurance (Singapore) Pte Ltd (passed the hull exam with 85.56%):

Learning and development has always been a much encouraged area in our line of business.  I first heard about the IUMI Hull Tutorial from our Learning & Development Department.  Handling Hull claims require in-depth knowledge on the coverages and exclusions and I reckoned the Hull Tutorial would provide a good foundation for me as a claims’ handler, handling both cargo & hull claims.  I felt really challenged when I was told that the pass mark for the exam is 65% and even contemplated not taking the exam!  But am glad that after going through the modules that were planned out in an informative and a well structured way, I decided to book for the exam after my third reading.  It was definitely rewarding going through this online tutorial at my own pace whilst deepening my understanding in area of underwriting, risk assessment and claims adjustment.  I strongly encourage underwriters, adjusters, surveyors or anyone working in the marine insurance industry to take up this online course.  From the vast topics covered throughout the tutorial, there is definitely something rewarding to reap when one decides to embark on this learning journey! 

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