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MARINE INSURANCE ACT, 1906

(6 Edw 7 c 41)

[21 December 1906]

An Act to codify the law relating to Marine Insurance. TABLE OF CONTENTS

Insurable Interest Double Insurance The Voyage Partial Losses (Including Salvage & General Average & Particular Charges) Rights of Insurer on Payment Mutual Insurance

Marine Insurance

1. MARINE INSURANCE DEFINED

A contract of marine insurance is a contract whereby the insurer undertakes to indemnify the assured, in manner and to the extent thereby by 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 assured against 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 this Act 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.

3. MARINE ADVENTURE AND MARITIME PERILS DEFINED