Marine Insurance

Abstract

Marine insurance has always had particular features that distinguished it from other forms of insurance. The modern law of marine insurance is governed by the Marine Insurance Act 1906 (MIA). In addition to concepts and matters enshrined in the Act, marine insurance practice involves the use of specially developed clauses for hull and machinery and cargo insurance, specific to marine policies. Section 22 of the MIA provides that the marine insurance contract must be embodied in a policy in order to be admissible in evidence. This is an anachronistic provision in an age of electronic contracts and is probably also superseded in part. Warranties have survived rather better in the context of marine insurance than in other forms of insurance, partly no doubt because the use of basis clauses and proposal forms is impossible in marine insurance. Waiver of breach of marine warranties is therefore always by estoppel, requiring representation and reliance.