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.Â
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 also involves consideration of the extensive case law. The module also considers the Insurance Act 2015, which entered into force on 12 August 2016.
Module Syllabus
- The Contract of Marine Insurance and Insurable InterestÂ
- Formation, Construction and Rectification of the Marine Insurance ContractÂ
- Voyage and Time PoliciesÂ
- Valued and Unvalued PoliciesÂ
- Floating Policies and Open CoversÂ
- Composite and Joint PoliciesÂ
- The Duty of the Utmost Good Faith (Duty of Fair Presentation) – Part IÂ
- The Duty of the Utmost Good Faith (Duty of Fair Presentation) – Part IIÂ
- The Broker in the Contract of Marine InsuranceÂ
- The Consideration for the Contract – PremiumÂ
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- Express Warranties and Terms of the PolicyÂ
- Implied Warranties Â
- Marine Risks – Part IÂ
- Marine Risks – Part IIÂ
- Causation and Excepted PerilsÂ
- War and Strike RisksÂ
- Sue and LabourÂ
- Measure of Indemnity: Partial and Particular Average LossesÂ
- Measure of Indemnity and Actual Total LossÂ
- Measure of Indemnity and Constructive Total LossÂ
Subrogation and Contribution
Recommended Materials
- Marine Insurance Act 1906
- Insurance Act 2015
There are no required text books. However, the following text books are useful reference sources:
- Arnould’s Law of Marine Insurance and Average (20th ed., 2021)Â
- Rose, Marine Insurance: Law and Practice (2nd ed., 2012)Â
Gurses, Marine Insurance Law (2nd ed., 2016)Â
Preliminary Reading
Background Reading (optional):Â
- Arnould’s Law of Marine Insurance and Average (20th ed., 2021), chapters 1, 10 and 11Â
- Rose, Marine Insurance: Law and Practice (2nd ed., 2012), chapters 1, 2 and 3Â
Gurses, Marine Insurance Law (2nd ed., 2016), chapter 1Â
Module reading lists and other module materials will be provided via online module pages, available at the beginning of term once students have enrolled.Â
Key information
Module details | |
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Credit value: | 45 credits (450 learning hours) |
Convenor: | Peter Macdonald Eggers KC |
Other Teachers: | None |
Teaching Delivery: | 20 x 2-hour weekly seminars, Term One and Two |
Who may enrol: | LLM Students Only |
Prerequisites: | None |
Must not be taken with: | None |
Qualifying module for: | LLM in International Commercial Law; LLM in Maritime Law |
Assessment | |
Practice Assessment: | TBD |
Final Assessment: | 3 Hour Online Controlled Condition Exam (100%) |