ABSTRACT

In social science, each area is so closely connected with others that a change or development in one has an immediate effect on the other related areas. For example, an Act regulating the functions and operations of banks has considerable effect on economy and sociology. In this respect, although the ISMC is a set of guidelines for shipowners and not, in itself, law, it is inevitable that its terms will have a considerable impact on maritime law. The main areas that are expected to be affected by the ISMC are cargo claims (seaworthiness and due diligence provisions), limitation of liability and marine insurance. The aim of this part is to discuss the possible impact of the ISMC on provisions relating to seaworthiness in marine insurance. The impact of the ISMC on general principles of marine insurance law will be examined first, before considering its implications for particular forms of policy.