T8—Obtaining and Placing Cargo Insurance; Deciding Upon Coverage

Subscriber price: $68.00, Non-subscriber price: $110.00
Estimated total study time: 4 hours 1 minute [Enroll now]

This course provides a decision framework concerning cargo insurance (i.e., when to insure, optional coverages, etc.), and then covers the role of a transportation intermediary in advising and placing insurance coverage.

The Decision to Insure—Basic Factors

This lesson covers the most basic issues one should consider in deciding to insure cargo, and serves as an introduction to cargo risk analysis.

(Estimated study time: 1 hour 9 minutes)

The "Value" of Insurance (Shipper's Perspective)

This lesson describes a quantitative approach a shipper can use to help determine the "value" of cargo insurance. We refer to this as "net theoretical insurance value". Knowing the value of insurance helps a shipper justify the decision to insure, or, where the cost of insurance is too high in relation to value, the decision to "self-insure."

(Estimated study time: 1 hour 7 minutes)

Contingency Insurance and Underwriting Issues

This lesson covers cargo insurance a shipper can use to cover his exposure when depending on his trading partner to arrange primary insurance, and then continues with explanation of the various considerations an insurance underwriter must address when setting insurance premiums.

(Estimated study time: 33 minutes)

Reaching an Insurance Decision; Rationale

This lesson offers a framework and step-by-step process through which to reach a well prudent cargo insurance decisions, including the negotiation of needed insuring conditions.

(Estimated study time: 32 minutes)

Role of Forwarder/Customs Broker/Other Transportation Intermediary

This lesson explores the function and responsibility of transportation intermediaries in advising shippers concerning cargo insurance, arranging such insurance and assisting with claims, including special issues which arise when concurrently acting as an indirect carrier.

(Estimated study time: 40 minutes)