III IC-67 study plan

III IC-67 · Give each week a clear focus.

8 weeks · About 8 hours per week

Week 1

Marine Insurance

Map the full Marine Insurance syllabus into a topic checklist covering hull, cargo, liability, and freight exposures
Define the core principles of marine insurance in your own words: insurable interest, utmost good faith, indemnity, subrogation, and proximate cause
Distinguish marine perils, fortuities, and barratry, and give one concrete example of each from a voyage scenario
Build a personal glossary of 30 marine insurance terms with precise definitions

A one-page syllabus map plus a 30-term glossary in your own words, reviewed for accuracy against at least two sources

Week 2

Explain the structure and purpose of marine insurance policies, including the policy schedule, clauses, and endorsements
Compare valued policies, unvalued policies, voyage policies, and time policies, and state when each is used
Interpret the key insuring clauses of a hull policy, including perils insured against and exclusions
Apply the doctrine of proximate cause to at least three short loss scenarios

A written comparison table of policy types with a worked proximate-cause analysis of three scenarios

Week 3

Analyze hull and machinery cover, including total loss, partial loss, and particular average
Distinguish general average from particular average and identify the sacrifice and contribution elements
Explain sue and labour, collision liability, and salvage charges and how each interacts with the sum insured
Calculate a simple partial loss settlement using a policy deductible and underinsurance

A worked settlement exercise with full calculations for one partial loss and one general average contribution

Week 4

Analyze cargo insurance, including Institute Cargo Clauses A, B, and C and the cover each provides
Explain the duration of cover, the transit clause, and when cover attaches and terminates
Identify cargo exclusions such as inherent vice, insufficient packing, and delay
Interpret warranties and conditions in cargo policies and the consequences of breach

A comparison sheet of Cargo Clauses A, B, and C with a timed 20-question self-test scored and reviewed

Week 5

Explain marine liability exposures, including protection and indemnity cover and its main risks
Distinguish charterers' liability, shipowners' liability, and freight forwarders' liability
Describe the role of the carrier's duties under the Hague-Visby and Hamburg Rules at a conceptual level
Apply the principle of subrogation and contribution between insurers to a multi-party claim

A liability exposure matrix mapping risk type to policy type, with one subrogation case walkthrough

Week 6

Explain underwriting factors for marine risks, including vessel age, class, trade route, cargo type, and claims history
Interpret reinsurance arrangements relevant to marine portfolios, including facultative and treaty
Analyze the claims process from notification through survey, adjustment, and settlement
Identify common fraud indicators and the insurer's obligations when fraud is suspected

A mock underwriting submission assessment with a recommended rating rationale and a claims handling flowchart

Week 7

Review the regulatory and legal framework affecting marine insurance, including the Marine Insurance Act principles and market regulation
Explain the duties of disclosure and fair presentation of risk and the remedies for breach
Apply total loss concepts, including actual total loss, constructive total loss, and notice of abandonment
Practice 40 mixed-format questions under timed conditions and review every wrong answer

A timed 40-question practice set with a written error log categorizing each mistake by cause

Week 8

Consolidate weak areas identified in the error log by re-teaching each weak topic aloud or in writing
Rehearse full-length exam conditions with one complete timed mock and review it thoroughly
Memorize key clause references and standard definitions using spaced repetition
Finalize a one-page exam-day reference sheet of formulas, principles, and clause names

A completed full-length mock exam with a score, a revised error log, and a final one-page reference sheet

Week 2: Can explain policy types and proximate cause without notes and score at least 70% on a 15-question self-quiz on fundamentals

Week 4: Can correctly settle a partial loss and a general average contribution, and score at least 75% on the cargo clauses self-test

Week 6: Can produce a defensible underwriting rationale and a complete claims flowchart from memory in under 30 minutes

Week 8: Score at least 80% on the full-length timed mock and show that every error-log item has been closed out