(9 Edw 7 c 12)
An Act to prohibit Gambling on Loss by Maritime Perils
This Act superimposes criminal sanctions upon the civil consequences contained in the Marine Insurance Act 1906 of insuring under a marine policy where there is no insurable interest. The Act is to all effects redundant, and there are no reported prosecutions under the Act.
- any person effects a contract of marine insurance without having any bona fide interest, direct or indirect, either in the safe arrival of the ship in relation to which the contract is made or in the safety or preservation of the subject-matter insured, or a bona fide expectation of acquiring such an interest; or