The Marine Insurance (Liability) Act 2016

The Marine Insurance (Liability) Act 2016 updates laws regarding liabilities and claims related to marine insurance, such as accidents involving ships or cargo. It clarifies how insurers and policyholders handle damages, liabilities, and claims, ensuring better alignment with international standards. The Act aims to promote fairness, transparency, and consistency in marine insurance disputes, facilitating smoother resolution processes and reducing legal uncertainties. Overall, it helps protect parties involved in marine activities by establishing clear rules for liability and claims handling in this specialized industry.