Postgraduate Module Descriptor

LAWM079: Marine Insurance

This module descriptor refers to the 2017/8 academic year.

Module Aims

The aim of the module is to provide you with a comprehensive introduction to marine insurance, explaining the forms of insurance available and the legal framework which applies to them. You will look at the standard forms of insurance wordings issued by the London Market, and you will learn to apply those wordings to common situations which arise. There are many current challenges, including the activities of pirates, and you will consider how both insurers and the law respond to these challenges.

Intended Learning Outcomes (ILOs)
This module's assessment will evaluate your achievement of the ILOs listed here - you will see reference to these ILO numbers in the details of the assessment for this module.
On successfully completing the programme you will be able to:
Module-Specific Skills	1. Demonstrate a detailed knowledge of the forms of risk for which insurance is required and what policies are available to cover those risks; 2. Demonstrate a detailed knowledge of the legal framework applicable marine policies and the ability of the parties to contract out of the default rules laid down by the law; 3. Advise accurately and comprehensively on the application of the default rules and the most common market agreements to the most important risks covered by marine policies
Discipline-Specific Skills	4. Demonstrate detailed and comprehensive knowledge and understanding of the complex web of case law dating back 300 years, statutory codification and market agreements 5. Demonstrate flexible and innovative ability to analyse the outcome of typical marine insurance disputes and to review critically the state of the law and whether any reform is needed
Personal and Key Skills	6. Communicate key legal concepts to both legal and market audiences effectively, confidently and independently 7. Research and write concisely, confidently and autonomously on the application of the law to specific problem issues

Module Content

Syllabus Plan

While the module’s precise content may vary from year to year, it is anticipated that the following topics will be covered:

History of marine insurance, from the Bubble Act 1720 to the present day
The role of Lloyd’s, insurance companies, P&I Clubs and brokers
The types of risks covered by marine policies and the wordings available
Formation of policies using the Market Reform Contract
Key formation concepts, including insurable interest and utmost good faith
Forms of loss and the measure of indemnity
The rights of insurers, including subrogation, contribution and abandonment

Learning and Teaching

This table provides an overview of how your hours of study for this module are allocated:

Scheduled Learning and Teaching Activities	Guided independent study	Placement / study abroad
36	264	0

...and this table provides a more detailed breakdown of the hours allocated to various study activities:

Category	Hours of study time	Description
Scheduled Learning & Teaching activities	30	10 x 3 hour Lectures/seminars
Scheduled Learning and Teaching Activity	6	Small group presentations on previously assigned topics aimed to make assessment more vivid and more diverse. Students will be required to make small group presentations on chosen topics (allocated time: 15 minutes for each group) (2 x 3 hour Seminars dedicated to presentations)
Guided independent study	180	Post-lecture/seminar reading
Guided independent study	84	Preparation for formative/summative essays and summative presentations

Online Resources

This module has online resources available via ELE (the Exeter Learning Environment).

BAILII http://www.bailii.org/

I-law http://www.i-law.com/

English and Scottish Law Commissions, 2006-2013, 9 issues papers and three consultative documents

http://lawcommission.justice.gov.uk/areas/insurance-contract-law.htm

Australian Insurance Law Reform Committee Report No 91, 2001 http://www.alrc.gov.au/report-91

Insurance Act 2015 http://www.legislation.gov.uk/ukpga/2015/4/contents/enacted

Marine Insurance Act 1906 http://www.legislation.gov.uk/ukpga/Edw7/6/41/contents