Marine insurance act …. UK

Lax Moratoria. Professors Healy and Sharpe have described the relationship between the United Kingdom's Marine Insurance Act and the American law of marine insurance as follows: "While Congress has not restated the marine insurance law of the United States, the U.K. law of marine insurance was codified in 1906, when the Marine Insurance Act became law. Of course the Act does not apply of its own force in the United States, but U.S. and U.K. courts alike have recognized the desirability of uniformity in the law of marine insurance . . . . While some differences still exist, a considerable degree of uniformity has in fact been achieved, so that the Marine Insurance Act is not only a codification of U.K. law, but can be read as a reasonably close restatement of the still-decisional U.S. law of marine insurance.