RECENT DEVELOPMENTS IN MARINE INSURANCE LAW AND CONSEQUENCES FOR IRAN

Abstract

The United Kingdom Insurance Act 2015 entered into force on 12 August 2016. It introduced major changes to some provisions of the Marine Insurance Act 1906 which has been the principal model for establishing marine insurance law and practice not only in common law jurisdictions, but also in some civil law countries. The main areas of change are the duty of fair presentation, warranties, insurer’s remedies for fraudulent claims and damages for the late payment of claims. This thesis investigates how uniformity in international marine insurance law can be promoted by virtue of the new changes in English law and participation of developing countries. The thesis provides observations on the possible influence of the new Act on Iranian insurance law and practice. This thesis is of potential interest to international organizations and industry associations which advocate for uniformity of marine insurance law and practice, and to Iranian legislators in the future development of national marine insurance legislation.