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The module involves the study and appraisal of the English law of marine insurance.

Marine Insurance Law represents the development of centuries of commercial practice and common law and is the foundation for the law governing all insurance transactions. The law is constantly evolving to meet new technologies and economic circumstances and remains influential in the development of general insurance law in England and other countries. This involves the consideration, amongst other things, of (a) the definition and requirements of a valid marine insurance contract, (b) the conclusion of the contract and the duty of utmost good faith (duty of fair presentation), (c) the categories of marine insurance contract, (d) the parties and their agents, (e) the principle of indemnity, (f) coverage focussing on marine and war risks, (g) the terms of the contract, (h) the measure of indemnity, and (i) the principles of subrogation and contribution.Ìý

The law of marine insurance concerns the insurance of property, financial interests and liabilities arising by exposure to maritime and other perils and principally relates to the insurance of ships, cargoes and energy interests. The module involves a close reading of the Marine Insurance Act 1906 and the Insurance Act 2015 and also involves consideration of the extensive case law.

• The Contract of Marine Insurance and Insurable InterestÌý

• Formation, Construction and Rectification of the Marine Insurance ContractÌý

• Voyage and Time PoliciesÌý

• Valued and Unvalued PoliciesÌý

• Floating Policies and Open CoversÌý

• Composite and Joint PoliciesÌý

• The Duty of the Utmost Good Faith (Duty of Fair Presentation) – Part IÌý

• The Duty of the Utmost Good Faith (Duty of Fair Presentation) – Part IIÌý

• The Broker in the Contract of Marine InsuranceÌý

• The Consideration for the Contract – PremiumÌý

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• Express Warranties and Terms of the PolicyÌý

• Implied WarrantiesÌýÌý

• Marine Risks – Part IÌý

• Marine Risks – Part IIÌý

• Causation and Excepted PerilsÌý

• War and Strike RisksÌý

• Sue and LabourÌý

• Measure of Indemnity: Partial and Particular Average LossesÌý

• Measure of Indemnity and Actual Total LossÌý

• Measure of Indemnity and Constructive Total LossÌý

• Subrogation and Contribution

Recommended Materials

• Marine Insurance Act 1906Ìý

• Insurance Act 2015

There are no required text books. However, the following text books are useful reference sources:Ìý

• Arnould’s Law of Marine Insurance and Average (20th ed., 2021)Ìý

• Gurses, Marine Insurance Law (3rd ed., 2023)Ìý

Preliminery Reading

Background Reading (optional):Ìý

• Arnould’s Law of Marine Insurance and Average (20th ed., 2021), chapters 1, 10 and 11Ìý

• Gurses, Marine Insurance Law (3rd ed., 2023), chapter 1Ìý

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Module reading lists and other module materials will be provided via online module pages, available at the beginning of term once students have enrolled.Ìý

Key Information