Wilburn Boat v Fireman's Fund 1955
The US Supreme Court decision that left marine insurance regulation to the states where no established federal admiralty rule exists.
Wilburn Boat Co v Fireman’s Fund Insurance Co, 348 U.S. 310, was decided by the US Supreme Court on 28 February 1955. The Court held that Congress has not taken over the regulation of marine insurance contracts, and sent questions with no established federal admiralty rule, here a warranty in a houseboat hull policy, to state law.
The full article will cover the facts, the reasoning, the later case law on what counts as an established federal rule, and why many US marine policies choose English law expressly. The cargo insured value article covers how this topic affects the sum insured on a cargo policy.