The shipowners are always confronted with various marine risks in marine adventures, and domestic or foreign commercial insurance, P I Club including Korea P I Club, Ship``s Mutual Insurance by Korea Shipping Association are used to cover them. Owing ...
The shipowners are always confronted with various marine risks in marine adventures, and domestic or foreign commercial insurance, P I Club including Korea P I Club, Ship``s Mutual Insurance by Korea Shipping Association are used to cover them. Owing to international characters of marine insurance, English Institute Hulls Clauses and Institute Cargo Clauses are generally included in marine insurance contract even though the contracts are concluded between Korean shipowners(or cargoowners) and marine insurers. English governing clause which states This insurance is subject to English law and practice are unexceptionally inserted in English marine standard clauses. From early, Korean Supreme Court admitted English governing clauses and recognized English law, cases and practice as Korean sources of law. And so Korean Court has decided the marine insurance cases by applying English Marine Insurance Act 1906, common law and practice. This paper aims at researching and commenting Korean Supreme Court,s cases on marine insurance.