IRDAI Surveyor Marine Cargo (S-03) study guide
IRDAI Surveyor Marine Cargo (S-03) · Work through your exam, one topic at a time.
The IRDAI S-03 Marine Cargo examination is the specialisation paper that insurance surveyors and loss assessors in India clear to handle marine cargo claims. It sits within the surveyor licensing framework regulated by the Insurance Regulatory and Development Authority of India, and it tests whether you can inspect a damaged consignment, read a cargo policy correctly, and defend a loss assessment in writing. The IRDAI Surveyor Marine Cargo (S-03) study guide has 10 sections and about 3,340 words.
01Marine Insurance Fundamentals and Legal Framework
This section covers the legal skeleton of a marine cargo contract: indemnity, insurable interest, utmost good faith, warranties, policy construction and assignment under the Marine Insurance Act, 1963. The exam tests application, not bare definitions.
376 words, about 2 min02Marine Cargo Insurance Clauses and Institute Cargo Clauses (A), (B), (C)
This domain tests the 2009 Institute Cargo Clauses. You must distinguish ICC(A), ICC(B) and ICC(C), apply exclusions and identify who bears the burden of proof.
375 words, about 2 min03Cargo Perils, Exclusions, and Proximate Cause
This domain examines cargo perils and the doctrine of proximate cause: which event, in the chain of causation, is treated as the efficient cause of loss. It also tests the exclusions that remove losses from an otherwise covered peril.
355 words, about 2 min04Types of Cargo Policies, Endorsements, and Certificate of Insurance
This domain tests the policy forms used for cargo, the effect of endorsements and the role of the certificate of insurance. It requires you to match the commercial sale term to the correct policy structure.
367 words, about 2 min05Packing, Stowage, Containerization, and Seaworthiness
This domain tests the physical risk factors a cargo surveyor must inspect: packing, stowage, container condition and seaworthiness. The exam links these facts to the ICC exclusions and to carrier liability.
323 words, about 2 min06Loss Assessment, Survey Procedures, and Documentation
This domain covers the surveyor's loss assessment and documentation: what to inspect, what to collect, how to measure partial loss and how to present a defensible report. Confirm appointment, policy/certificate, sum insured, insured value, deductible, cover and voyage.
306 words, about 2 min07Particular Average, General Average, Salvage, and Sue and Labour
This domain tests four related but distinct concepts: particular average, general average, salvage and sue-and-labour. The exam expects correct classification and correct treatment of each in a cargo claim.
334 words, about 2 min08Claims Handling, Subrogation, and Recovery
This domain covers the claim lifecycle from notice to recovery, with emphasis on subrogation and the insured's duty to preserve rights against carriers and other third parties. Receive notice, check policy/certificate, date of loss, voyage and insured value.
279 words, about 1 min09Reinsurance, Co-insurance, and Underwriting Considerations for Cargo
This domain tests how cargo risks are shared and rated: co-insurance between insurers, reinsurance behind the policy, and the underwriting factors that shape terms. Co-insurance means two or more insurers subscribe to the same risk, each for a stated percentage.
306 words, about 2 min10Regulatory, Ethical, and Professional Standards for Surveyors
This domain tests the regulatory and ethical standards for licensed surveyors and loss assessors under the IRDAI framework, especially the Insurance Surveyors and Loss Assessors Regulations, 2015, and the professional conduct expected in cargo claims. A surveyor must hold a valid IRDAI licence for the relevant category and comply with renewal, training and record-keeping requirements.
319 words, about 2 min