Third party aggressors as insured perils under a marine insurance policy

Abstract

ABSTRACTMarine insurance policies insure against a number of recognized perils, many of which are concerned not with accidents, but with deliberate loss or damage inflicted by aggressive third parties. These perils have been considered by the courts over the years, some — particularly piracy and barratry — more often than others. The difficulty associated with the interpretation of such perils has been compounded by the slow evolution of the notion of fortuity by both academics and judges. Given the definitions of such insured perils adopted by the courts, the extent of coverage afforded by such policies should be reconsidered. This article evaluates these judicial definitions and concludes by considering the application of such perils to the position of co-assureds.