ABSTRACT
The provisions of this Act shall be construed in amplifi cation and not in derogation of the powers exerciseable by an agent independently of this Act.
This Act shall not extend to Scotland
Marine Insurance 37 Section 1 Marine insurance defi ned 37 2 Mixed sea and land risks 37 3 Marine adventure and maritime perils defi ned 37
Insurable Interest 37 4 Avoidance of wagering or gaming contracts 37 5 Insurable interest defi ned 38 6 When interest must attach 38 7 Defeasible or contingent interest 38 8 Partial interest 38 9 Re-insurance 38 10 Bottomry 38 11 Master’s and seamen’s wages 38 12 Advance freight 39 13 Charges of insurance 39 14 Quantum of interest 39 15 Assignment of interest 39
Insurable Value 39 16 Measure of insurable value 39
Disclosure and Representations 40 17 Insurance is uberrimae fi dei 40 18 Disclosure by assured 40 19 Disclosure by agent effecting insurance 40 20 Representations pending negotiation of contract 40 21 When contract is deemed to be concluded 41
The Policy 41 22 Contract must be embodied in policy 41 23 What policy must specify 41 24 Signature of insurer 41 25 Voyage and time policies 41 26 Designation of subject-matter 42 27 Valued policy 42 28 Unvalued policy 42 29 Floating policy by ship or ships 42 30 Construction of terms in policy 42 31 Premium to be arranged 43
Double Insurance 43 32 Double insurance 43
Warranties, etc 43 33 Nature of warranty 43 34 When breach of warranty excused 43 35 Express warranties 44 36 Warranty of neutrality 44 37 No implied warranty of nationality 44 38 Warranty of good safety 44 39 Warranty of seaworthiness of ship 44 40 No implied warranty that goods are seaworthy 45 41 Warranty of legality 45
The Voyage 45 42 Implied condition as to commencement of risk 45 43 Alteration of port of departure 45 44 Sailing for different destination 45 45 Change of voyage 45 46 Deviation 46 47 Several ports of discharge 46 48 Delay in voyage 46 49 Excuses for deviation or delay 46
Assignment of Policy 47 50 When and how policy is assignable 47 51 Assured who has no interest cannot assign 47
The Premium 47 52 When premium payable 47 53 Policy effected through broker 47 54 Effect of receipt on policy 47
Loss and Abandonment 47 55 Included and excluded losses 47 56 Partial and total loss 48 57 Actual total loss 48 58 Missing ship 48 59 Effect of transhipment, etc 48 60 Constructive total loss defi ned 49
61 Effect of constructive total loss 49 62 Notice of abandonment 49 63 Effect of abandonment 50
Partial Losses (Including Salvage, General Average and Particular Charges) 50 64 Particular average loss 50 65 Salvage charges 50 66 General average loss 50
Measure of Indemnity 51 67 Extent of liability of insurer for loss 51 68 Total loss 51 69 Partial loss of ship 51 70 Partial loss of freight 52 71 Partial loss of goods, merchandise etc 52 72 Apportionment of valuation 52 73 General average contributions and salvage charges 52 74 Liabilities to third parties 53 75 General provisions as to measure of indemnity 53 76 Particular average warranties 53 77 Successive losses 53 78 Suing and labouring clause 54
Rights of Insurer on Payment 54 79 Right of subrogation 54 80 Right of contribution 54 81 Effect of under insurance 54
Return of Premium 55 82 Enforcement of return 55 83 Return by agreement 55 84 Return for failure of consideration 55
Mutual Insurance 55 85 Modifi cation of Act in case of mutual insurance 55
Supplemental 56 86 Ratifi cation by assured 56 87 Implied obligations varied by agreement or usage 56 88 Reasonable time, etc a question of fact 56 89 Slip as evidence 56 90 Interpretation of terms 56
First Schedule Form of policy 57
Marine insurance
A contract of marine insurance is a contract whereby the insurer undertakes to indemnify the assured, in manner and to the extent thereby agreed, against marine losses, that is to say, the losses incident to marine adventure.
