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MARITIME LAW ASSOCIATION OF AUSTRALIA AND NEW ZEALAND

ACN 054 763 923

ABN 97 054 763 923


MLAANZ
c/- Clerk Young
GPO Box 4770
Melbourne VIC 3001
AUSTRALIA
www.mlaanz.org

The Maritime Law Association of Australia and New Zealand


Proposed reform of the Commonwealth Marine Insurance Act 1909
In February 2015 the UK enacted the Insurance Act 2015 which will come into effect
in August 2016. That Act makes fundamental amendments to the UK Marine
Insurance Act in relation to the key areas utmost good faith, disclosure, remedies for
breach of contract and warranties. The substance of many of these amendments
resembles to some extent the corresponding recommendations and draft Bill of the
Australian Law Reform Commission review of 2001, and to some extent the
corresponding provisions in the Commonwealth Insurance Contracts Act 1984.
As the new UK legislation (like the ALRC draft Bill) adopts a more pro-insured
approach it would seem probable that this will place the Australian marine insurance
market at a competitive disadvantage and at real risk of losing business. It will also
mean that Australian marine insurance law will become obsolete in relation to the
changes to English marine insurance law under the UK legislation.
With a view to maintaining the Australian marine insurance market in a competitive
position, maintaining legal harmony with the UK marine insurance law and
implementing key recommendations of the ALRC report, MLAANZ proposes a draft
bill to amend the Commonwealth Marine Insurance Act 1909, and will present its
proposal and consult with members and other stakeholders.
The first presentation will be in Sydney with a video link to our members in Perth and
Adelaide, with other presentations to follow in Brisbane and Melbourne.
Venue: Sydney courtroom No1 level 21, Perth courtroom 4, Adelaide courtroom 3
Date and time: 24 May 2016 at 4.30pm (Sydney Time)
Please register (for catering purposes) at: https://www.trybooking.com/LIJX
Why:

Response to the UK Insurance Act 2015

How:

Utilising ALRC Marine Insurance Act Review 2001 recommendations

What:

Utmost good faith


Material non-disclosure and misrepresentation
Warranties
Remedies for breach of duty
Cancellation

Interest on late indemnity payments


Inland waters and incidental air risks
Cargo open or annual policies