Discussion Paper, Review of the Marine Insurance Act 1909 (DP 63), was published in July 2000.
The issues discussed in chapter 2 (`Approaches to reform’), chapter 3 (`Competition and the marine insurance market’), and chapter 4 (`Competition policy’) present some of the important legal policy issues relevant to reform of the MIA and to the approach to be taken by the Commission in the conduct of this inquiry. Particular areas for possible reform that receive consideration are warranties (chapter 5), the duty of utmost good faith (chapter 6) and the requirement of an insurable interest (chapter 7). Other areas for possible reform, including issues relating to mixed risks, evidence of marine insurance contracts, double insurance, agents and brokers and subrogation are considered in chapter 8. Chapter 9 deals with issues relating to the removal or modification of obsolete terms or concepts in the MIA.
View DP 63 in HTML on the AustLII website.