chapter  3
22 Pages

Insurable Interest

Marine Insurance (Gambling Policies) Act 1909 3.14 Further steps to prohibit contracts rendered void by the Marine Insurance Act

1906, section 4 were enacted in the Marine Insurance (Gambling Policies) Act 1909.30 Penalties31 are imposed on the assured in two classes of contract which are deemed to be contracts by way of gambling on loss by maritime perils.32 Similar penalties are also imposed on any broker or other person through whom, and any insurer with whom, any such contract is effected if he acted knowing that the contract was by way of gambling on loss by maritime perils within the meaning of the Act.