Marine Insurance: Law and Principles | LAWS6171

Module overview

Marine insurance is the key device for the management of risk in international trade. London remains the leading global centre for its practice, covering risks from across the globe. Marine insurance contracts made under English law, and litigated and arbitrated in London, are vital to ensure the free flow of ships, cargo and crew required for trade to occur. Taught by a team of experts, this module provides a detailed study of the key legal principles on which those contracts are based and which differ significantly from the general rules of English contract law. The module will also provide comprehensive review of the changing nature of English marine insurance law, as the effects of the Insurance Act 2015 are felt within the industry.

Aims and Objectives

Learning Outcomes

Knowledge and Understanding

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

Describe and assess existing areas of debate affecting marine insurance law and policy.
Demonstrate knowledge and understanding of the main principles under English common law and legislation that govern marine insurance policies

Subject Specific Intellectual and Research Skills

Having successfully completed this module you will be able to:

Appraise and criticise existing debates in U.K. marine insurance law, using appropriate legal research skills.
Locate and analyse relevant legal and other primary and secondary source materials.
Identify and explain the main English law principles underpinning the law relating to marine insurance.
Apply the legal principles, with appropriate legal authorities, in the solution of complex problems.
Analyse relevant legal materials, including statutes, case law and appropriate secondary sources.

Transferable and Generic Skills

Having successfully completed this module you will be able to:

Distinguish relevant from irrelevant materials.
Display clarity and objectivity in written discussion demonstrating an awareness of issue of academic integrity.
Identify and analyse key issues.
think critically, develop coherent arguments in writing.

Syllabus

The following is indicative of the content of the module:

* Introduction to marine insurance (history, codification, statute, books etc)

*Insurable Interest, Formation (Lloyds)

* Utmost Good Faith and Fair Presentation: Marine Insurance Act 1906

* Fair Presentation (Examples) & Insurance Act 2015 (incl Contracting Out)

* Warranties and Implied Terms under Marine Insurance Act 1906

* Risk Management clauses under Insurance Act 2015

* Fraudulent Claims

Learning and Teaching

Teaching and learning methods

This module is taught through lectures (8x2hours) and seminars (3x2hours). Lectures will introduce the principles and structure of the subject. You are expected to provide the main input to the seminars where the principles introduced in the lectures are applied to hypothetical scenarios.

The most important part of learning is your own independent study. This will, however, be closely guided, and firmly tied into the lectures, seminars and assessment. In the seminars you will have the opportunity to present arguments orally to a group of peers and defend your position under challenge.

Study time
Type	Hours
Blended Learning	22
Independent Study	128
Total study time	150

Resources & Reading list

Textbooks

O Gurses (2016). Marine Insurance Law. Routledge.

J Gilman QC, et al (2020 (with 2nd supp)). Arnould: Law of Marine Insurance and Average. Sweet & Maxwell.

Assessment

Formative

This is how we’ll give you feedback as you are learning. It is not a formal test or exam.

Coursework Essay

Summative

This is how we’ll formally assess what you have learned in this module.

Breakdown
Method	Percentage contribution
Coursework	100%

Referral

This is how we’ll assess you if you don’t meet the criteria to pass this module.

Breakdown
Method	Percentage contribution
Coursework	100%

Repeat

An internal repeat is where you take all of your modules again, including any you passed. An external repeat is where you only re-take the modules you failed.

Breakdown
Method	Percentage contribution
Coursework	100%

Repeat Information

Repeat type: Internal & External