UCL FACULTY OF LAWS

LLM Programme

The taught modules offered on the LLM programme vary from year to year. Please check the full list of taught modules list for details of modules running in specific academic years. We make every effort to ensure that every module will be offered, but modules are subject to change and cancellation. You are therefore advised to check this site regularly for further updates throughout the year preceding entry to the LLM programme.


MARINE INSURANCE LAW (LAWSG092)
Credit value: 30 credits (12 ECTS)
Module Convenor:
Mr Peter MacDonald Eggers
Other Teachers:
N/A
Content

Summary:

The module involves the study and appraisal of the English law of marine insurance, involving consideration, amongst other things, of

(a) the definition and requirements of a valid marine insurance contract
(b) the conclusion of the contract and the duty of utmost good faith
(c) the categories of marine insurance contract
(d) the parties and their agents
(e) the principle of indemnity
(f) coverage focussing on marine and war risks
(g) the terms of the contract
(h) the measure of indemnity
(i) the principles of subrogation and contribution.

The law of marine insurance concerns the insurance of property, financial interests and liabilities exposed to maritime perils and principally relates to the insurance of ships, cargoes and energy interests.

The module involves a close reading of the Marine Insurance Act 1906 and also involves consideration of the extensive case law.

Syllabus:

  • The Contract of Marine Insurance and Insurable Interest
  • Formation, Construction and Rectification of the Marine Insurance Contract
  • Voyage and Time Policies
  • Valued and Unvalued Policies
  • Floating Policies and Open Covers
  • Composite and Joint Policies
  • The Duty of the Utmost Good Faith - Part I
  • The Duty of the Utmost Good Faith - Part II
  • The Broker in the Contract of Marine Insurance
  • The Consideration for the Contract - Premium
  • Assignment
  • Warranties - Part I
  • Warranties - Part II
  • Marine Risks - Part I
  • Marine Risks - Part II
  • Causation and Excepted Perils
  • War and Strike Risks
  • Sue and Labour
  • Measure of Indemnity: Partial and Particular Average Losses
  • Measure of Indemnity and Actual Total Loss
  • Measure of Indemnity and Constructive Total Loss
  • Subrogation and Contribution
  • Reinsurance, Mutual Insurance and Rights of Third Parties

Background Reading (optional):

  • Bennett, The Law of Marine Insurance (as above), chapter 1 and para. 3.02-3.64
  • Arnould’s Law of Marine Insurance and Average (as above), chapters 1, 10 and 11
  • Rose, Marine Insurance: Law and Practice (as above), chapters 1, 2 and 3

Module reading lists and other module materials will be provided via online module pages, once students have made their module selections upon enrolment in September.

Delivery and enrolment
Lectures/Seminars: 20 x 2-hour seminars
Tutorials: None
Previous module enrolments: Medium – 16-50 students
Who may enrol: LLM students
Prerequisities: None
Barred module combinations: None
Core Module for LLM specialism: International Commercial Law, Maritime Law
Assessment
Final Assessment: 3-hour unseen written examination
Practice Assessment: Opportunity for feedback on an unassessed optional problem paper
Other Information
In previous years, bulk orders for the purchase of Bennett, The Law of Marine Insurance (as above) direct from the publisher at a discounted price have been permitted. It is not currently known whether this arrangement will be continued, but it will be investigated once it is known how many students wish to purchase this book.

This page was last updated on 8 July, 2014

APPLICATION NOTICES

The application process for the 2015-16 academic session is now open.

Please note, for the 2015-16 intake, we are not accepting the TOEFL test. If you have an English condition to meet, you must take one of the alternative tests listed here instead.