Lesson Notes By Weeks and Term - Senior Secondary 2

Marine insurance I

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Term – 2nd Term

Week: 1

Class: Senior Secondary School 2

Age: 16 years

Duration: 40 minutes of 2 periods each

Date:       

Subject:      Insurance

Topic:-       Marine insurance I

SPECIFIC OBJECTIVES: At the end of the lesson, pupils should be able to

  1. Define marine insurance
  2. State the features of marine insurance

INSTRUCTIONAL TECHNIQUES: Identification, explanation, questions and answers, demonstration, videos from source

INSTRUCTIONAL MATERIALS: Videos, loud speaker, textbook, pictures

INSTRUCTIONAL PROCEDURES

PERIOD 1-2

PRESENTATION

TEACHER’S ACTIVITY

STUDENT’S ACTIVITY

STEP 1

INTRODUCTION

The teacher reviews the previous lesson on credit insurance

Students pay attention

STEP 2

EXPLANATION

He defines marine insurance

 

 

Students pay attention and participates

STEP 3

DEMONSTRATION

He states the features of marine insurance

Students pay attention and participate

STEP 4

NOTE TAKING

The teacher writes a summarized note on the board

The students copy the note in their books

 

NOTE

MARINE INSURANCE

Marine insurance is a branch of insurance which covers losses or liabilities

relating to ship and their cargoes against the dangers or perils of the sea.

 

Marine insurance is a type of insurance that ensures the transfer of all

accidental risks associated with water transportation to the insurance

company.

 

Marine insurance is a form of insurance that covers the loss or damage of

ships, cargo, terminals, acquired, or held between the points of origin and

the final destination. It is a type of insurance that covers goods that will be

transported on a cargo ship, vessels, and through terminals.

 

With this insurance, the policyholder agrees with the insurance company

that the insurance company will reimburse the policyholder if the goods got

missing or damaged during the transportation. In exchange for this

assurance, the policyholder needs to pay a certain fee for the insurance.

NOTE THAT:

(i) Marine insurance is probably the oldest form of insurance.

(ii) Marine insurance is compulsory in international trade so that all goods

passing through the sea, including the ships must be covered.

(iii) Lloyds of London is considered as the largest marine insurers in the

world.

FEATURES OF MARINE INSURANCE POLICY

  1. It covers against risks associated with sea voyage.
  2. The ship owner can insure his ship against loss as a result of fire, storm

or collision.

  1. The cargoes can also be insured.
  2. The ship owner can insure a ship for one voyage or for a specified period

of time.

EVALUATION:    1. Define marine insurance

  1. Mention three features of marine insurance

CLASSWORK: As in evaluation

CONCLUSION: The teacher commends the students positively