IC-67 Marine Insurance
IC-67 Marine Insurance is a 30-credit optional paper in the general stream, and the oldest branch of insurance there is. Much of modern insurance law was settled on marine cases first, which is why the paper repays attention even if you never intend to underwrite a cargo risk.
Why marine feels different
Marine has its own vocabulary, its own standard clauses, and doctrines that appear nowhere else. Candidates often find the opening chapters heavy for exactly that reason — you are learning a language as well as a subject. It gets markedly easier once the terms are familiar, so push through rather than judging the paper by its first twenty pages.
What the paper deals with
- Cargo and hull — the two main branches, and how differently they behave.
- The principles as marine applies them — insurable interest, utmost good faith and indemnity all have marine-specific expressions worth learning precisely.
- Standard clauses — the clause sets that dominate the market, and what each grade of cover responds to.
- Types of loss — total loss (actual and constructive) and partial loss.
- General average and salvage — a doctrine unique to marine and a reliable source of questions.
- Voyage, duration and transit — when cover attaches and when it ends.
- Documentation and claims — the paperwork a marine claim runs on.
Confirm against your edition's syllabus.
The topics that repay study
General average is the highest-yield topic in the paper. Distinctive, conceptually clean, and examiners return to it. Be able to state what it is, when it applies, and how contribution works.
Constructive versus actual total loss. The distinction is exact and frequently tested — learn the notice of abandonment mechanics alongside it.
Know the clause grades and what each covers. These are the practical backbone of the market and effectively free marks once learned.
Understand when transit cover begins and ends. Warehouse-to-warehouse questions test whether you read carefully.
How to prepare
Marine rewards glossary discipline. Keep a running list of terms with one-line definitions in your own words and revise it in short bursts — precisely the material spaced repetition handles best.
Certena serves 287 verified IC-67 questions. Because marine questions often hinge on a single precise term, read the explanation on every one you get wrong instead of moving straight on.
Pair with IC-11 for the wider frame, and see choosing your optionals if you are still deciding.