Lord Mansfield was an important pillar in the origin of the insurance contract as he found the solution of disputes over insurance through the application of principles acquired from the law merchant and the more traditional common law concepts.
At the time of his retirement in 1788, the jurisdiction of the courts of insurance matters had been established.
First and foremost in order to speak of the law of insurance we must first look at its history and its origins.
The many principles of the law of insurance derive their origins from the standard insurance contract documents mainly being the proposal form and the policy which have been drafted in a fairly uniform way throughout its existence.
Alternatively, a house insured against the outbreak of fire may never burn down.