| CODE | INS5017 | ||||||||
| TITLE | Advanced Commercial Lines | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Insurance and Risk Management | ||||||||
| 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 study-unit is: - To provide students with the knowledge and understanding of commercial lines insurances including particular underwriting and claims aspects practices; - 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: - Identify and explain 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 Commercial lines policies; - Classify risks related to this kind of insurance business for premium purposes; - Recognise the different form of risk sharing; - Explain the various operational practices related to these policies; - Identify and explain the extent of cover afforded by these policies; - Describe and relate the full commercial lines claims process; - Identify and explain the use of various clauses and conditions associated with commercial lines insurance. 2. Skills: By the end of the study-unit the student will be able to: - Distinguish and differentiate between different commercial insurance policies; - Interpret and apply the various wording, terms and provisions of various commercial lines policies namely property, marime, motor and engineering - Interpret and apply the intention of the various sections of cover and exclusions; - Distinguish between different material damage insurance policies; - compare and contrast different products and practices in the commercial insurance business, locally and overseas; - Examine and criticise case study scenarios and appraise court decisions on underwriting and claims; - Apply insurance rates according to degree of risk; - Compare and contrast the different types of reinsurance and risk sharing; - Compute insurance and reinsurance premia; - Design and write warranties and special conditions according to the varying nature of commercial risks. Main Text/s and any supplementary readings: Main Texts: - 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 Readings: - 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). |
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| STUDY-UNIT TYPE | Lecture and Tutorial | ||||||||
| 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 2024/5. It may be subject to change in subsequent years. |
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