요약
The Marine Insurance Act 1906 codified the common law of marine insurance, largely based on the judgments of Lord Mansfield. It remains the foundation of marine insurance law worldwide and defines insurable interest, utmost good faith, warranties, and the measure of indemnity.
핵심 포인트
- Contract of marine insurance defined — insurer indemnifies assured against marine losses (s.1)
- Insurable interest required (ss.5-14)
- Utmost good faith (uberrima fides) — duty of disclosure of material facts (s.17-20) — modified by Insurance Act 2015 for non-consumer
- Warranties — must be exactly complied with; breach automatically discharges insurer (modified by Insurance Act 2015)
- Types of loss: total loss (actual and constructive), partial loss, general average
- Subrogation — insurer steps into shoes of assured after payment (s.79)
편과 조
개정 이력
2015 — Insurance Act 2015
Reformed duty of disclosure (replacing duty of utmost good faith for non-consumer insurance) and warranties.