Law of Marine Insurance

  QUESTION: Does the Insurance Act 2015 create ‘ a new and fairer balance between the insured and insurer ’ with respect to the duty of utmost good faith in marine insurance? Discuss in light of case law and statutory law INSTRUCTIONS: - DO NOT BE DESCRIPTIVE AT ALL. - THE POINT OF THIS PAPER IS TO PROVIDE CRITICAL ANALYSIS. - DO NOT CONFLICT WITH OTHER LAWS. FOCUS ON THE UK LAW. HOWEVER YOU COULD USE FOREIGN CASES TO MAKE COMPARISON WITH THE CURRENT LAW IN THE UK. - DISCUSS THE TOPIC IN LIGHT OF CASES AND ACTS. - AVOID OLD CASES AND ARTICLES. USE MODERN AND UPDATED SOURCES. - FOR CITING (FOOTNOTES) PLEASE USE OSCOLA AND REFER TO THE GUIDE THAT I HAVE UPLOADED. - REFER TO CURRENT LEGAL OR NON-LEGAL ISSUES RELEVANT TO THE TOPIC. - I RECOMMEND USING LAW COMMISSION REPORTS ON THE TOPIC. - PLEASE PROVIDE EVIDENCE FOR EACH ARGUMENT. ANNOTATED BIBLIOGRAPHY: THE ANNOTATED BIBLIOGRAPHY SHOULD BE 50-70 WORDS (FOR EACH SOURCE) EXPLAINING HOW THE SOURCE WAS USEFUL TO THE PAPER AND HOW DID YOU USE IT. DO NOT DESCRIBE THE SOURCE ITSELF. THE WORD COUNT FOR THE ANNOTATED BIBLIOGRAPHY SHOULD NOT EXCEED 1000 WORDS. STRUCTURE: 1. Table of contents: a. There must be a title for each chapter. b. You can include subsections under chapters. c. The table of content should reflect the key points of the paper. 2. Introduction: a. The introduction should provide the reader with the scale and structure of the paper. b. Include an outline of the paper. c. In the last 2-3 sentences, state the argument you are making. Whether you agree or disagree with the question. I would you like to agree with the question please. Argue that it does create a fairer balance. 3. Chapter one: The duty of utmost good faith: a. Discuss history. b. Why was it established? c. Importance in marine insurance. d. This duty in the Marine Insurance Act 1906(UK). e. Potential disadvantages( if available). 4. Chapter two: The Insurance Act 2015 and the duty of utmost good faith: a. Why was the duty amended in the new Act? b. What are the amendments? 5. Chapter three: Did the new duty of utmost good faith amended in Insurance Act 2015 create ‘ a new and fairer balance between the insured and insurer?’ a. Arguments against. b. Arguments for. c. Focus on arguments for because that will be the conclusion. d. Do not forget to focus on the interests of the insured and insurer while arguing the effectiveness of this Act in regards to the duty of utmost good faith. 6. CONCLUSION.