What does English Laws and Practices mean”?
If you have a claim or dispute with the insurance company it will be settled in the United Kingdom based on their Marine Insurance Act of 1906! The English system takes the guesswork out of equation; only one (1) in a 1,000 claims ever goes to court. There is no discovery and there are no punitive or exemplary damages in the English system; claimants are compensated based on the principles of the 1906 Marine Insurance Act as determined by the insurance company. In the English System, Legal fees add up even quicker than they do in the USA and most importantly, the loser pays everyone’s Court Costs and legal fees which is the reason so few claims ever go to court. This leaves you with a very small chance that you will ever collect; it is also the reason why polices written subject to English Laws and Practices have substantially lower premiums than polices written subject to US Laws and Jurisdiction.
