MM2323: Discuss the principle of utmost good faith in the context of marine insurance: Marine Insurance, Essay, IMBM, Singapore

Section A :  2 Compulsory Questions

All Two (2) Questions MUST be answered. CQ1 carries 20 marks while CQ2 is worth 15 marks.

CQ1) Discuss the principle of utmost good faith in the context of marine insurance, providing examples to illustrate its application.

CQ2) Describe the different types of marine insurance policies available in the market, highlighting their key features and differences.

Section B : 4 Optional Questions (OQ)

OQ1) What are the main elements covered under a typical marine cargo insurance policy?

OQ2) Explain the concept of ‘perils of the sea’ in marine insurance.

OQ3) Explain the concept of ‘General Average’ in marine insurance.

OQ4) Compare and contrast ‘Hull Insurance’ and ‘Protection & Indemnity’ (P&I) insurance.