Core Courses

Liability Insurance for the Transportation Industry

Course Details

hours
0.0
price
$99.00
This course is not subject to discount pricing.

Additional Credit Available:

Optional Insurance CE
Optional CPA CE

Exam Requirements

Monitor Required: 

No

Passing Grade: 

70%

Please note: Adding Additional Credit may change exam requirements.

Course Description
Businesses operating in the transportation industry face liability exposures specific to those business operations: the operation of land vehicles, aircraft, watercraft, and trains and the carrying of passengers and property. Those exposures must typically be addressed by specialized forms of liability insurance. But transportation businesses also face liability exposures similar to those faced by any business: maintenance of business premises; activities of employees on and away from those premises; advertising, sales, and marketing operations; and maintenance of an Internet presence. These latter loss exposures can usually be addressed by purchasing general liability insurance, just as non-transportation businesses do.

This course describes and analyze the various forms of liability insurance that transportation firms in all categories—vehicular, marine, aviation, and rail—maintain in order to protect themselves from liability claims from those who have been injured, or whose property has been damaged, by the firms’ business activities. That includes general liability insurance, marine liability insurance, aviation liability insurance, railroad insurance, and a range of associated coverages.

Learning Objectives
This is an intermediate-level course. Upon successful completion, students will be able to:
  • recognize the relationships between general liability insurance and other transportation-related liability insurance, such as commercial auto, marine liability, or railroad protective liability insurance
  • distinguish between the types of losses covered and excluded by a standard commercial general liability (CGL) policy
  • recognize the effects of the CGL’s aircraft, auto, or watercraft exclusions and the extent to which those exclusions make other forms of liability coverage necessary for various transportation businesses
  • recognize the important role of excess and umbrella insurance in protecting transportation companies against large liability losses
  • recognize the importance of railroad protective liability insurance as a risk transfer tool in the relationship between railroads and contractors performing operations on or near railroad property
  • recognize how marine liability coverages protect shipowners and operators from the liability exposures associated with maritime business
  • recognize how aviation liability coverages protect owners and operators of aircraft businesses and airports from the liability exposures associated with those operations
  • identify the loss exposures associated with warehousing operations and the insurance required to address those exposures

Prerequisites
A basic understanding of commercial liability exposures and insurance coverage.

CPE Field of Study

Management Services

WebCE® is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

By IRMI

International Risk Management Institute, Inc. (IRMI), is the premier provider of risk and insurance continuing education and reference services. IRMI was the first publisher of reference content covering the field of risk finance in 1983 with the publication of Risk Financing, a comprehensive reference resource on all aspects of traditional and alternative market approaches. IRMI is also publisher of the first newsletter to cover the field of captives, Captive Insurance Company Reports; two comprehensive books on the subject of captive insurance; and Captive.com, the first and foremost information resource and networking center on the Internet for the alternative market. Use the knowledge you gain from IRMI CE courses with confidence, knowing they are written by seasoned risk and insurance professionals who employ diligent quality assurance standards to provide the most up-to-date, practical, and reliable information possible.