The University of Southampton
Courses

LAWS6065 Marine Insurance

Module Overview

Aims and Objectives

Module Aims

This course considers the main legal principles set out in the codifying legislation of the Marine Insurance Act 1906 and the further development of English law by case law.

Learning Outcomes

Knowledge and Understanding

Having successfully completed this module, you will be able to demonstrate knowledge and understanding of:

  • The main principles which govern the contractual obligations arising under marine insurance contracts and when they terminate including: - Formation of insurance contracts - Insurable interest - Duties of marine insurance brokers - The duty of utmost good faith - Fraudulent claims - Construction of insurance contracts - Marine insurance warranties - Insurance conditions - The premium - Subrogation - Sue and labour - Hull and Cargo Insurance – Standard Clauses - Causation and marine perils - Losses: actual, constructive and partial - P & I insurance - Reinsurance
  • The main policies and values underpinning the law relating to marine insurance.
  • Existing areas of debate about what the law is and what it ought to be, both in England and internationally.
Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

  • Analyse relevant legal materials, including statutes, case law and the modern standard form marine insurance contracts.
  • Identify and describe key legal and policy issues in their commercial and political contexts.
  • Apply marine insurance law principles, with appropriate legal authorities, in the solution of complex practical problems.
  • Draft legal advice based upon such problems.
  • Appraise and criticise existing debates in England and international maritime law, using appropriate legal research skills.
Transferable and Generic Skills

Having successfully completed this module you will be able to:

  • Display clarity and objectivity in oral and/or written discussion.
  • Critically evaluate others’ arguments.
  • Develop and present a written argument with appropriate evidence.
  • Effectively research, organise and manage independent research using available primary, secondary, electronic and paper sources
  • Evaluate the material obtained from primary and secondary, electronic and paper sources

Syllabus

London has a strong marine insurance and reinsurance market. The London market and English law developed by the market and the judiciary have influenced the principles of marine insurance law which now have international application. This course considers the main legal principles set out in the codifying legislation of the Marine Insurance Act 1906 and the further development of English law by case law. Moreover, the law is in constant development and change and the English and Scottish Law commissions have long been working on reform of insurance law principles in the UK. In the Marine Insurance course we also touch upon the Law Commissions’ work and the reforms that have been achieved so far. In addition, the course focuses on specific types of marine cover which a ship owner will usually obtain, most notably property and collision liability insurance under a hull and machinery policy; liability insurance from a P & I Club and also the range of cover which cargo interests may obtain. The key standard form contracts used in the London market are analysed and evaluated. Lastly the London reinsurance market is considered.

Learning and Teaching

Teaching and learning methods

Teaching methods include: - lectures - tutorials Learning activities include: - Preparing tutorial sheets in advance of the tutorials so that you will be able to participate in class discussions. - Individual study/research in advance of lectures - Accessing online resources. - Formative assessments (an essay and a mock exam)

TypeHours
Independent Study260
Teaching40
Total study time300

Resources & Reading list

Gurses (2015). Marine Insurance Law. 

Colinvaux. Colinvaux’s Law of Insurance. 

Colinvaux and Merkin. Colinvaux and Merkin’s Insurance Contract Law (looseleaf). 

Gilman and Merkin. Arnould’s Law of Marine Insurance and Average (available on westlaw). 

Lowry/Rawlings/Merkin. Insurance Law Doctrines and Principles. 

Rose. Marine Insurance Law and Practice. 

Assessment

Formative

Mock exam

Summative

MethodPercentage contribution
Assessment  (3.5 hours) 100%

Repeat

MethodPercentage contribution
Assessment  (3.5 hours) 100%

Referral

MethodPercentage contribution
Assessment  (3.5 hours) 100%

Repeat Information

Repeat type: Internal & External

Costs

Costs associated with this module

Students are responsible for meeting the cost of essential textbooks, and of producing such essays, assignments, laboratory reports and dissertations as are required to fulfil the academic requirements for each programme of study.

In addition to this, students registered for this module typically also have to pay for:

Textbooks

Recommended texts for this module may be available in limited supply in the University Library and students may wish to purchase the core/recommended text as appropriate.

Please also ensure you read the section on additional costs in the University’s Fees, Charges and Expenses Regulations in the University Calendar available at www.calendar.soton.ac.uk.

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