§ Order of the Day for the Second Reading read.
727§ THE LORD CHANCELLOR (The EARL of HALSBURY)in moving the Second Reading of this Bill explained that it was intended to codify the law relating to marine insurance. He regretted that this was the third time he had introduced this very desirable measure, which had been prevented from becoming law by obstruction in the House of Commons. The Bill was the outcome of a conference on this subject between shipowners, underwriters, and merchants, who were unanimous in expressing the hope that it would become law during the present session. The noble and learned Lord read extracts from letters received by him in order to show the great interest taken in the subject, and earnestly pressing that the Bill should be passed. These letters were from Lloyd's, the Associated Chambers of Commerce of the United Kingdom, the Edinburgh Chamber of Commerce, the Association of Average Adjusters, the Chamber of Shipping of the United Kingdom, the Liverpool Underwriters' Association, and the Shipowners' Parliamentary Committee.
§ *EARL RUSSELL called attention to sub Section (b) of Clause 4, which provided that a contract of marine insurance should be deemed to be a gaming or wagering contract if in the body of the policy there occurred certain words. He would like to ask the noble and learned Lord whether it was the intention to render a policy void from the mere fact of its containing these words—and it was quite possible that a careless draughtsman might, in copying an old policy, insert these technical words—even if there had been a proper insurable interest. Again, sub-Section 1 of Clause 10 provided that the insurable value in the case of a steamship included also the machinery and boilers. He would have thought that this was obvious, but if it was necessary to insert this provision in the case of steamships would it not be desirable to insert words providing that vessels propelled by other forms of mechanical power, such as modern explosion engines, should have their machinery covered?
728§ THE LORD CHANCELLOR replied that contracts of marine insurance were seldom entered into by persons who were unacquainted with the technical terms, and he was afraid he could not hold out any hope that, if technical terms were used, it would be possible hereafter to say they were inserted by mistake. Practically, the question would not arise, because the parties concerned would take good care that the documents they executed were in proper form. With regard to the other point raised by the noble Lord he thought some question might arise upon it when the Bill was in Committee, but he did not think that at present he could give any advantageous explanation of it.
§ On Question. Bill read 2a (according to order), and committed to a Committee of the Whole House on Thursday next.
§ House adjourned at five minutes past Six o'clock, to Monday next, a quarter before Eleven o'clock.