Insurance Institute of India announces seminar on Marine Cargo and Hull Insurance: Keeping Afloat

III Seminar  “Marine Cargo and Hull  Insurance: Keeping Afloat” falls under the ‘Look Deep’ (LD) Category of III Seminars. LD Seminars are conducted by III’s College of Insurance on  specific themes related to  specialized areas of Insurance. Such seminars focus on areas where the industry needs to take stock, analyze and consider need for a course correction.Â

The themes are picked up from news items or emanate from discussions. The topic “Marine Cargo and Hull  Insurance: Keeping Afloat” was suggested by industry seniors. We found it important that the industry checks where they stand in respect of knowledge and skills relating to Marine Cargo and Hull Insurance on underwriting, claims and related areas. We are happy to present to the Indian insurance industry a Seminar on “Marine Cargo and Hull Insurance: Keeping Afloat”.

Nominations:

Nominations may be sent in the form attached to Mrs. C.M. Raikar, Administrative Officer (College of Insurance), Insurance Institute of India, C-46, G- Block, Bandra-Kurla Complex, Mumbai  – 400 051, Tel. No: 022 26544224, Mob. No.: 9869054633, along with  payment Nomination fee per delegate  is  Rs.2,809/- including service tax  (`2,500/- plus Service Tax 12.36%). Any correspondence on the subject may be sent to seminar@iii.org.in

Seminar Focus:

Seminar “Marine Cargo and Hull Insurance: Keeping Afloat” is intended to bring senior professionals of the industry, working in  Marine Cargo, Hull, Underwriting, Claims, reinsurance and related departments together for a day for this exercise of assessment and analysis. Due to its specialized nature, the seminar will be open only for a limited number of 80 participants on first come first serve basis.

Marine Insurance in India has achieved a Gross Direct Premium of Rs.2,851 crores in 2011-12 compared to the premium figure of  Rs.1,015 crores in 2000-01, at an average growth of around 9% across the 11 year period. In 2011-12, the growth was 12.6% over the previous year’s premium. The growth of Marine  premium was in more or less in sync, though not in the  same pace as that of the Indian General Insurance industry which had a Gross Direct Premium  Rs.10,498 crores when the industry opened up in 2000-01 and has grown to an impressive Rs. 58,356 crores in 2011-12.

However, without being prescriptive in the matter, we felt that industry leaders should ponder over the issue, assess the industry’s needs of Insurance knowledge and skills in Marine Cargo and Hull and reflect over the future requirements so that the industry is seized of  the  importance  of  the  issue and is able to  decide how  to  take  today’s Rs.1,845 crore Cargo portfolio and Rs.1,006 crore Hull portfolio ahead.

Date – 31st October, 2012Venue –Auditorium, 1st Floor,Insurance Institute of IndiaPlot No.C-46, ‘G’ Block,Bandra-Kurla Complex,Mumbai – 400 051.