Warranties in marine insurance : the Maltese legal perspective

Abstract

The thesis will aim at trying to find a way how both the insurers and the assured have some sort of guidelines on Warranties in Marine Insurance (hereinafter referred to as 'Warranties'), even by possibly suggesting that the concept be enshrined in the Maltese Legal system. In the introduction I shall explain what the aim of thesis is and I am going to rise up questions to show what the situation in Malta, in respect of warranties, is and also referring to why I have chosen certain jurisdictions and not others for comparison purposes. The First Chapter contains a historical analysis on the origins of Marine Insurance Law in general and Warranties. It also provides a definition of warranties and the classification of warranties according to experts in the field. It contains also the common law position before the enactment of the UK Marine Insurance Act of 1906 and the position after such an enactment, and then I will delve into the fact that there are other jurisdictions which are contributing to the Modern concept of Warranties. I will proceed with briefly describing the characteristics of warranties and also the current position in Malta, together with questions which will be answered in the chapters which follow. The Second Chapter contains a study of Express Warranties, explaining how can they be recognised when they are imposed in an insurance contract and also providing a detailed list of some common express warranties which are frequently imposed on a contract. In the Third Chapter I shall explain the Implied Warranties found in other jurisdictions. These consist in the implied warranty of seaworthiness, implied warranty of portworthiness, implied warranty of cargoworthiness and implied warranty of legality. The Fourth Chapter looks at what happens when there is a breach of warranty and explains the possibility of the waiver of breach of warranty which can be imposed by the insurer. The Fifth Chapter explains the Warranties from the Maltese legal perspective and identifies the fact that there is total absence of provisions on Warranties. Therefore as a conclusion I will suggest some provisions on Warranties which may easily be included in the Commercial Code. Appendix B provides a document with Proposed Draft Legislative Provisions to be added to the Commercial Code. These provisions should serve the basis for the introduction of the concept of Warranties in Malta Law.