요약
The Marine Insurance Act 1906 codified the common law of marine insurance as it had developed over centuries, principally through Lloyd's of London. Although directed at marine risks, its principles — particularly the duty of utmost good faith (uberrimae fidei), insurable interest, warranties, and subrogation — historically governed all types of insurance contract until reformed by the Insurance Act 2015 and the Consumer Insurance (Disclosure and Representations) Act 2012.
핵심 포인트
- Defines a contract of marine insurance (s.1)
- Requires insurable interest (ss.4–15)
- Duty of utmost good faith (s.17) — now modified by Insurance Act 2015
- Disclosure obligations (s.18) — largely replaced for non-consumer contracts
- Warranties must be exactly complied with (s.33) — now modified by Insurance Act 2015
- Measure of indemnity and total/partial loss (ss.67–78)
- Subrogation rights of the insurer (s.79)
- Defines marine insurance as covering losses incident to marine adventure (s.1-3)
- Establishes requirement of insurable interest (s.4-15)
- Codifies duty of utmost good faith (uberrima fides) (s.17) — now modified by Insurance Act 2015
- Sets out rules on warranties and their breach (s.33-41)
- Provides for partial and total loss, actual and constructive (s.56-63)
- Establishes subrogation rights and contribution between insurers (s.79-80)
- Contract of marine insurance defined — insurer indemnifies assured against marine losses (s.1)
- Insurable interest required (ss.5-14)
- Utmost good faith (uberrima fides) — duty of disclosure of material facts (s.17-20) — modified by Insurance Act 2015 for non-consumer
- Warranties — must be exactly complied with; breach automatically discharges insurer (modified by Insurance Act 2015)
- Types of loss: total loss (actual and constructive), partial loss, general average
- Subrogation — insurer steps into shoes of assured after payment (s.79)
편과 조
개정 이력
2012 — Consumer Insurance (Disclosure and Representations) Act 2012
Removed consumer insurance contracts from the 1906 Act's disclosure regime.
2015 — Insurance Act 2015
Replaced the duty of disclosure (s.18) with the duty of fair presentation for non-consumer contracts; modified the remedy for breach of utmost good faith (s.17).
2015 — Insurance Act 2015
Modified the duty of disclosure and the remedies for breach of the duty of fair presentation, replacing the harsh 'avoidance' remedy with proportionate remedies.
2015 — Insurance Act 2015
Reformed duty of disclosure (replacing duty of utmost good faith for non-consumer insurance) and warranties.