The Influence of Marine Insurance Law on the Legal Development of Life and Fire Insurance in England
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Ogis, S. (2019). The Influence of Marine Insurance Law on the Legal Development of Life and Fire Insurance in England. Duncker & Humblot. https://doi.org/10.3790/978-3-428-55881-0
Ogis, Sinem. The Influence of Marine Insurance Law on the Legal Development of Life and Fire Insurance in England. Duncker & Humblot, 2019. Book. https://doi.org/10.3790/978-3-428-55881-0
Ogis, S (2019): The Influence of Marine Insurance Law on the Legal Development of Life and Fire Insurance in England, Duncker & Humblot, [online] https://doi.org/10.3790/978-3-428-55881-0
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The Influence of Marine Insurance Law on the Legal Development of Life and Fire Insurance in England
(2019)
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About The Author
Sinem Ogis obtained her LL.B. at Yasar University (Izmir, Turkey) in 2013 where she triumphed as third ranked in her Law Faculty. In 2013, she was awarded the Best Student of Yasar University 2013 Prize and a Jean Monnet Scholarship supported by European Union. In 2014, she completed an LL.M. in Maritime Law at the University of Southampton with a dissertation on powerships. From 2015 to 2018, she was a research assistant at the University of Augsburg as part of the ERC-funded project »A Comparative History of Insurance Law in Europe« and wrote her Ph.D.-thesis on the history of English insurance law. Sinem Ogis speaks Turkish, English, Italian and German and she is a qualified lawyer in Turkey.Abstract
This book addresses the question whether English insurance law is in its entirety rooted in marine insurance. English literature and case law indeed assert that life and fire insurance are nothing more than offspring of marine insurance. To describe life and fire insurance law as offspring of marine insurance suggests that the legal rules and principles as developed in the context of marine insurance were simply transferred as a whole to life and fire insurance. However, it is possible that the legal development happened differently. There could rather have been a convergence of the different legal regimes. To speak of a gradual convergence suggests that marine insurance law was transposed into life and fire insurance law only where appropriate. By analyzing this research question, the book unfolds the roots of modern insurance business in England as well as the evolution of English insurance law.
Table of Contents
| Section Title | Page | Action | Price |
|---|---|---|---|
| Abbreviations | 13 | ||
| Chapter 1: Introduction | 17 | ||
| A. State of Research | 17 | ||
| B. Resarch Question: Offspring or Gradual Convergence? | 25 | ||
| C. Overview | 27 | ||
| Part I: The Historical Development of Insurance | 29 | ||
| Chapter 2: Marine Insurance | 31 | ||
| A. Lombard Street in London | 31 | ||
| B. The First Known Marine Insurance Policies | 33 | ||
| C. The Book of Orders | 36 | ||
| D. The Chamber of Assurances | 37 | ||
| E. An Act Concerning Matters of Insurance Among Merchants | 38 | ||
| F. The Development of Marine Insurance Offices | 39 | ||
| I. Lloyd’s 1688 | 41 | ||
| II. Royal Exchange and London Assurance 1720 | 42 | ||
| Chapter 3: Life Insurance | 45 | ||
| A. First Known Life Insurance Policies | 46 | ||
| B. Bubble Schemes | 49 | ||
| C. The Development of Life Insurance Offices | 52 | ||
| I. The Society of Assurance of Widows and Orphans 1699 | 53 | ||
| II. Amicable Society 1706 | 54 | ||
| III. Equitable Society 1762 | 54 | ||
| Chapter 4: Fire Insurance | 57 | ||
| A. Barbon’s Fire Office 1667 | 59 | ||
| B. Corporation of London 1681 | 61 | ||
| C. Hand in Hand Mutual Fire Office 1696 | 62 | ||
| Chapter 5: Conclusion | 65 | ||
| Part II: The Doctrinal History of Insurance Law | 67 | ||
| Chapter 6: Essential Elements of Insurance Contracts | 69 | ||
| A. Insured and Insurer | 69 | ||
| I. Development of the terms insured and insurer | 69 | ||
| II. Inserting the name of the insured | 72 | ||
| 1. Marine insurance | 73 | ||
| 2. Life insurance | 75 | ||
| 3. Fire insurance | 76 | ||
| III. Conclusion | 76 | ||
| B. Subject Matter | 77 | ||
| I. Marine insurance | 78 | ||
| II. Life insurance | 82 | ||
| III. Fire insurance | 84 | ||
| IV. Conclusion | 86 | ||
| C. Duration of Insurance | 87 | ||
| I. Marine insurance | 87 | ||
| II. Life insurance | 89 | ||
| III. Fire insurance | 91 | ||
| IV. Conclusion | 93 | ||
| D. Risk | 94 | ||
| I. Defining the risk | 94 | ||
| II. Excluded risks | 96 | ||
| III. The risk of fire in marine insurance | 102 | ||
| IV. Insuring the lives of mariners | 106 | ||
| V. Insuring slaves against the perils of sea | 108 | ||
| VI. Conclusion | 113 | ||
| E. Premium | 114 | ||
| I. Calculating the premium | 116 | ||
| II. Payment of the premium | 119 | ||
| III. Return of the premium | 122 | ||
| F. Conclusion | 125 | ||
| Chapter 7: Insurable Interest | 129 | ||
| A. The Principle of Indemnity | 130 | ||
| B. Marine Insurance | 133 | ||
| I. The position before 1745 | 133 | ||
| 1. The “lost or not lost” clause | 135 | ||
| 2. The “interest or no interest” clause | 137 | ||
| II. The position after 1745 | 139 | ||
| III. Who has an insurable interest? | 141 | ||
| IV. The nature of an insurable interest: pecuniary interest | 143 | ||
| C. Life Insurance | 144 | ||
| I. The position before 1774 | 144 | ||
| II. The position after 1774 | 147 | ||
| 1. The 1774 Act and its effect on case law | 147 | ||
| 2. The 177 4 Act and its effect on the conditions of insurance offices | 149 | ||
| III. The nature of an insurable interest | 150 | ||
| D. Fire Insurance | 152 | ||
| I. A the 1774 Act n application of to fire insurance? | 152 | ||
| II. The conditions of the insurance offices: “Goods held in trust or commission” | 157 | ||
| E. Conclusion | 159 | ||
| Chapter 8: Warranties | 161 | ||
| A. Warranties and Representations | 161 | ||
| B. Marine Insurance | 165 | ||
| I. Warranty of seaworthiness | 166 | ||
| 1. The development of the warranty of seaworthiness | 166 | ||
| 2. Is the warranty of seaworthiness a continuing warranty? | 168 | ||
| 3. Evidence of seaworthiness or unseaworthiness | 169 | ||
| 4. Seaworthiness under time insurance policies | 170 | ||
| II. Warranty of non-deviation | 172 | ||
| 1. The development of the implied warranty of non-deviation | 172 | ||
| 2. Deviation due to necessity | 174 | ||
| 3. The “touch and stay” clause | 175 | ||
| III. Conclusion | 178 | ||
| C. Life Insurance | 178 | ||
| I. Warranty of good health | 179 | ||
| 1. The development of the warranty o f good health | 179 | ||
| 2. Warranty of good health and insuring the life of a third party | 187 | ||
| 3. Is the warranty as to health related habits a continuing warranty? | 188 | ||
| 4. Establishing the insured’s state of health | 189 | ||
| II. Altering the insured risk by travel | 190 | ||
| III. Conclusion | 192 | ||
| D. Fire Insurance | 193 | ||
| I. Description and classification of the building and goods | 193 | ||
| II. Proof of loss | 195 | ||
| III. Altering the insured risk | 198 | ||
| 1. Altering the structure of a building, its use or the location of goods | 198 | ||
| E. Conclusion | 204 | ||
| Part III: Summary | 207 | ||
| Chapter 9: Summary | 209 | ||
| Archival Sources | 215 | ||
| Other Sources | 217 | ||
| Bibliography | 219 | ||
| Index | 241 |