AMIM study guide
AMIM · Work through your exam, one topic at a time.
The Associate in Marine Insurance Management (AMIM) is a professional designation offered by The Institutes, listed on its site under the Claims & Underwriting designation family alongside credentials such as the Associate in Claims (AIC) and Associate in Commercial Underwriting (AU). It is aimed at professionals whose work touches marine and inland marine exposures - underwriters, claims adjusters, brokers, agents, and risk managers who handle cargo, hull, transit, and related liability risks - and who want a structured, credential-backed grounding in that specialty rather than general property-casualty knowledge. The AMIM study guide has 5 sections and about 1,635 words.
01Marine Insurance Fundamentals and Ocean Marine Coverages
Marine insurance rests on a few foundational principles that exam questions probe repeatedly. Utmost good faith (uberrimae fidei) obliges the assured to disclose every material circumstance; indemnity limits recovery to the actual loss; insurable interest must exist at the time of loss (not necessarily at inception, except for life).
385 words, about 2 min02Inland Marine and Commercial Property Coverages
Inland marine grew out of the nationwide marine definition , which permits marine-style (floater) coverage on property that is in transit, held by bailees, or of a mobile nature . This is the conceptual hinge exam questions test: inland marine covers movable property and instrumentalities of transportation/communication , whereas commercial property forms cover real property and business personal property at fixed locations .
327 words, about 2 min03Marine Liability, Protection and Indemnity
Protection and Indemnity (P&I) covers the third-party liabilities of a shipowner that hull policies do not: crew injury and illness, passenger claims, cargo damage liability, pollution, wreck removal, stowaways, fines, and collision liability for the excess over the hull's collision clause (the "RDC" - running down clause - typically covers 3/4 of collision damage). P&I is usually written on a mutual basis through clubs, with calls (premiums) assessed to members.
307 words, about 2 min04Cargo, Hull, and Transit Risk Management
Transit risk management requires matching the Incoterms risk transfer point to the insurance arrangement. Under CIF and CIP , the seller arranges insurance; under FOB and CFR , the buyer bears risk once goods are on board and arranges its own cover.
311 words, about 2 min05Marine Claims, Underwriting, and Management
Marine claims handling emphasizes prompt notice , survey , mitigation (sue and labor) , and subrogation . The claims adjuster must establish coverage , proximate cause , measure of indemnity , and salvage .
305 words, about 2 min