From Duty Of Good Faith To Fair Presentation- Should India Adopt The Amendments To UK Marine Insurance Act 1906?
Advocate Aufa Karnalkar, LLB, LLM (UK), Independent Legal Consultant
ABSTRACT
The Indian Marine Insurance Act 1963 is based on the UK Marine Insurance Act 1906. The UK MIA is adopted by Indian and other common wealth countries such as Australia and Canada to such an extent that the UK Marine Insurance Act 1906 has assumed the status of the law of nations and has stood the test of time. However, in the past decade the UK Marine Insurance Act 1906 was subject to criticism and was considered inadequate and outdated for the 21st Century. One of the several amendments made to the UK was the abolition of the sole remedy of avoidance of contract in case of breach of duty of good faith. However, these this major reform is not adopted by India. Despite Indian judiciary’s heavy reliance on judgements of the UK courts, the Indian Legislature has not adopted this reform brought about to the UK Marine Insurance Act 1906. This research paper analyses the need for India to abolish the sole remedy of avoidance of contract in case of breach of duty of good faith.
