Teaching objectives and requirements：
•After learning this chapter you will be able to master the character of insurance, different liabilities of different coverage of risks, procedures of taking insurance and premium calculation.
Teaching focus and difficulty：
Focus：Risks covered by marine transportation insurance; loses and fees; insurance categories undertaken by PICC and ICC; premium calculation, warehouse to warehouse clause.
Difficulty：Risks covered by marine transportation insurance; loses and fees; insurance categories undertaken by PICC and ICC.
5.1 Basic Principles of Insurance
5.1.1 Principle of Insurable Interest
5.1.2 Principle of Utmost Good Faith
5.1.3 Principle of Indemnity
5.1.4 Principle of Proximate Cause
5.2 Risks, Losses and Expenses in Marine Insurance
5.2.1 Risks covered by marine insurance
5.2.1.1 Perils of Sea
5.2.1.2 Extraneous Risks
5.2.2 Losses and expenses covered by marine insurance
5.2.2.1 Losses that suffered from perils of the sea
(1)Total Loss
(2)Partial Loss
5.2.2.2 Expenses
(1)Sue and labor expenses
(2)Salvage charges
5.2.2.3 Losses that suffered from extraneous risks
5.3 Terms and coverage of cargo insurance in China
5.3.1 Basic Coverage and Terms of CIC
5.3.1.1 FPA
5.3.1.2 WPA
5.3.1.3 All Risks
5.4 Institute Cargo Clause, ICC
5.4.1 ICC(A)
5.4.2 ICC(B)
5.4.3 ICC(C)
5.5 Cargo Insurance Practice in Import and Export Business
5.5.1 To determine Insurance Amout
5.5.2 To Make an Application and Pay Insurance Premium
5.5.3 To Obtain an Insurance Document
5.5.3.1 Insurance Policy
5.5.3.2 Insurance certificate
5.5.3.3 Open policy
5.5.3.4 Endorsement
5.5.4 Claim
5.5.4.1 Notice of damage
5.5.4.2 To lodge an insurance claim against the carrier for damage in transit
5.5.4.3 Take reasonable measures for salvage
5.5.4.4 Get documents for claim
5.5.4.5 Right of subrogation
5.6 Terms of insurance in a contract
