Knowledge

Marine Insurance Act 1906

Source πŸ“

34: 131:. The act is a codifying act, that is to say, it attempts to collate existing common law and present it in a statutory (i.e. β€œcodified”) form. In the event, the act did more than merely codify the law, and some new elements were introduced in 1906. The Marine Insurance Act 1906 has been highly influential, as it governs not merely English law, but it also dominates marine insurance worldwide through its wholesale adoption by other jurisdictions. 283:
Accordingly, s,14(3) amends s.17 of the Marine Insurance Act 1906 to read: "A contract of marine insurance is a contract based upon the utmost good faith" and that section's subsequent words: "and, if the utmost good faith be not observed by either party, the contract may be avoided by the other
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If be not complied with, then, subject to any express provision in the policy, the insurer is discharged from liability as from the date of the breach of warranty, but without prejudice to any liability incurred by him before that
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ss.60-63: deals with the issues of a constructive total loss. The insured can, by notice, claim for a constructive total loss with the insurer becoming entitled to the ship or cargo if it should later turn up. (By contrast an
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s.34(2): where a warranty has been broken, it is no defence to the insured that the breach has been remedied, and the warranty complied with, prior to the loss.
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s.18: the proposer of the insurer has a duty to disclose all material facts relevant to the acceptance and rating of the risk. Failure to do so is known as
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Section 14 provides that "any rule of law permitting a party to a contract of insurance to avoid the contract on the ground that
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Schedule 1 of the Act contains a list of definitions; schedule 2 contains the model policy wording.
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have addressed insurance in general, and have amended the law in several ways.
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as in force today (including any amendments) within the United Kingdom, from
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Part 5 of the Insurance Act 2015 addresses "Good faith" as follows:
116:. The act applies both to "ship & cargo" marine insurance, and to 242: 109: 61: 319: 294: 209: 263:
Consumer Insurance (Disclosure and Representations) Act 2012
241:; ie. the rights of the insurer to stand in the shoes of an 136:
Consumer Insurance (Disclosure and Representations) Act 2012
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describes the physical destruction of a vessel or cargo.)
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has not been observed by the other party is abolished.
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An Act to codify the Law relating to Marine Insurance.
2624: 150:The most important sections of this Act include: 2691: 142:have made amendments to the law of insurance. 112:. c. 41) is a UK act of Parliament regulating 1338:Kingdom of Great Britain and Northern Ireland 335: 2538:Church of England Assembly (Powers) Act 1919 2574:Measures of the National Assembly for Wales 2598:Acts of the Parliament of Northern Ireland 342: 328: 1336:Great Britain and Ireland and the United 163:s.17: imposes a duty on the insured of 2700:United Kingdom Acts of Parliament 1906 2692: 2586:Acts of the Northern Ireland Assembly 323: 207:s.34(3): a breach of warranty may be 92:Text of the Marine Insurance Act 1906 2657:United Kingdom statutory instruments 13: 349: 14: 2726: 39:Parliament of the United Kingdom 32: 2558:Acts of the Scottish Parliament 2662:Scottish statutory instruments 127:, who had earlier drafted the 1: 2679:Church of England instruments 358:Pre-parliamentary legislation 389:the Kingdom of Great Britain 7: 2705:United Kingdom contract law 288: 145: 123:The act was drafted by Sir 85:Status: Current legislation 10: 2731: 125:Mackenzie Dalzell Chalmers 18:United Kingdom legislation 2647: 2606: 2546: 2522: 1330: 1301: 1017:Acts of Parliament of the 1016: 996: 395: 383: 357: 256: 134:Two modern statutes, the 106:Marine Insurance Act 1906 90: 83: 78:Marine Insurance Act 1745 73: 68: 55: 45: 31: 26: 22:Marine Insurance Act 1906 1334:of the United Kingdom of 1020:Kingdom of Great Britain 365:List of English statutes 315: 803:Interregnum (1642–1660) 284:party" are now omitted. 997:Parliament of Scotland 261:Two new statutes, the 218:s.50: a policy may be 154:s.4: a policy without 129:Sale of Goods Act 1893 2710:Insurance legislation 2649:Secondary legislation 1304:Parliament of Ireland 396:Parliament of England 2570:Acts of Senedd Cymru 2501:European Communities 370:Charter of Liberties 249:for his own benefit. 245:insured and recover 2475:Halsbury's Statutes 387:of states preceding 385:Acts of parliaments 310:Seaworthiness (law) 23: 2481:Legislation.gov.uk 1332:Acts of Parliament 267:Insurance Act 2015 265:(β€œCIDRA”) and the 156:insurable interest 140:Insurance Act 2015 138:(β€œCIDRA”) and the 96:legislation.gov.uk 21: 2687: 2686: 2672:Acts of Adjournal 2643: 2642: 2635:1972–2009/2015–16 2608:Orders in Council 2524:Church of England 2518: 2517: 1012: 1011: 879:Habeas Corpus Act 790:Petition of Right 300:UK commercial law 278:utmost good faith 237:s.79: deals with 230:actual total loss 102: 101: 69:Other legislation 27:Act of Parliament 2722: 2715:Marine insurance 2667:Acts of Sederunt 2627:Northern Ireland 2622: 2621: 2495:relating to the 2492: 2491: 393: 392: 344: 337: 330: 321: 320: 305:Marine insurance 114:marine insurance 36: 35: 24: 20: 2730: 2729: 2725: 2724: 2723: 2721: 2720: 2719: 2690: 2689: 2688: 2683: 2639: 2620: 2602: 2547:Legislation of 2542: 2514: 2490: 2470: 2342: 1839: 1337: 1335: 1326: 1297: 1018: 1008: 992: 388: 379: 353: 348: 318: 291: 259: 213:by the insurer. 169:(as opposed to 166:uberrimae 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Index

Parliament of the United Kingdom
Long title
Citation
8 Edw. 7
Marine Insurance Act 1745
Text of the Marine Insurance Act 1906
legislation.gov.uk
8 Edw. 7
marine insurance
P&I cover
Mackenzie Dalzell Chalmers
Sale of Goods Act 1893
Consumer Insurance (Disclosure and Representations) Act 2012
Insurance Act 2015
insurable interest
uberrimae fides
caveat emptor
waived
assigned
subrogation
indemnified
salvage
Consumer Insurance (Disclosure and Representations) Act 2012
Insurance Act 2015
utmost good faith
Airmic
UK commercial law
Marine insurance
Seaworthiness (law)
v

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