ABSTRACT
All the provisions in the Act as to what may be made the subject-matter of a marine policy of insurance are derived from s 3 of the Act. It commences with the general statement that ‘every lawful marine adventure may be the subject of a contract of marine insurance’, and then lists three broad categories of matters which may be subjected to a marine adventure. The most obvious, namely, ‘ship, goods and other moveables’ are set out in s 3(2)(a); intangible property in s 3(2)(b); and liability to a third party in s 3(2)(c).
