English marine insurance

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English Marine Insurance Act 1906 - An Act to codify the Law relating
to Marine Insurance [21st December 1906]
England
copy @ lexmercatoria.org

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Contents

Contents

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English Marine Insurance Act 1906 - An Act to codify the Law relating to Marine Insurance [21st December 1906]

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English Marine Insurance Act 1906
An Act to codify the Law relating to Marine
Insurance [21st December1906]

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(b) The earning or acquisition of any freight, passage money, commission, profit, or other pecuniary benefit, or the security for any
advances, loan, or disbursements, is endangered by the exposure of
insurable property to maritime perils;

Marine Insurance

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perils. Such property is in this Act referred to as “insurable property”;

1. Marine insurance defined

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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.
2. Mixed sea and land risks
(1) A contract of marine insurance may, by its express terms, or
by usage of trade, be extended so as to protect the assuredagainst
losses on inland waters or on any land risk which may be incidental
to any sea voyage.
(2) Where a ship in course of building, or the launch of a ship, or
any adventure analogous to a marine adventure, is covered by a
policy in the form of a marine policy, the provisions of this Act,
in so far as applicable, shall apply thereto, but, except as by this
section provided, nothing in thisAct shall alter or affect any rule
of law applicable to any contract of insurance other than a contract
of marine insurance as by this Act defined.

(c) Any liability to a third party may be incurred by the owner of,
or other person interested in or responsible for, insurable property,
by reason of maritime perils.
“Maritime perils” means the perils consequent on, or incidental to,
thenavigation of the sea, that is to say, perils of the seas, fire, war,
perils, pirates, rovers, thieves, captures, seizures, restraints, and
detainment’s of princes and peoples, jettisons, barratry, and any
other perils, either of the like kind or which may be designated by
the policy.

(1) Subject to the provisions of this Act, every lawful marine adventure may be the subject of a contract of marineinsurance.

4. Avoidance of wagering or gaming contracts

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(1) Every contract of marine insurance by way of gaming or wagering is void.
(2) A contract of marine insurance is deemed to be a gaming or
wagering contract–

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(2) In particular there is a marine adventure where -

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(a) Any ship goods or other moveables are exposed to maritime

Provided that, where there is nopossibility of salvage, a policy may

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(b) Where the policy is made ‘interest or no interest,’ or ‘without
further proof of interest than the policy itself.’ or ‘without benefit
of salvage to the insurer,’ or subject to any other like term:

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Insurable Interest

(a) Where the assured has not an insurable interest as defined by
this Act, and the contract is...
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