The appeal is dismissed.

The costs of appeal are assessed against the Plaintiff.

The grounds of appeal are examined.

1. The instant insurance contract has a foreign element limiting the scope of the insurance accident to the Antarctic area, and its governing law should be determined under the Private International Act.

The main sentence of Article 25(1) of the Private International Act provides that “a contract shall be governed by the law that the parties have chosen explicitly or implicitly.”

Since the insurance contract of this case is governed by the English law, the English law is the governing law when the interpretation and validity of the insurance contract of this case are at issue.

According to Article 1 of the English Life Insurance Act 1774, which was enacted in 1774, the English Life Insurance Act 1774 (hereinafter referred to as the "former Life Insurance Act"), in case of life insurance or accident insurance, in order to lawful and effective effect of the insurance contract, the policyholder should have insurable benefits on life or body which was the subject of the insurance at the time of the conclusion of the insurance contract

Since the English Life Insurance Act does not have a definition on insurable interests, the English courts individually recognize insurable interests by case type.

Whether the type of insured benefit is recognized to the policyholder in relation to this case should be determined through the interpretation of the insurance contract.

The insured interest is related to liability insurance, not insurance contract should be concluded only in the form of liability insurance.

In an insurance contract under which a policyholder is to be paid a fixed amount of money for the death or injury of an unspecified number of persons who have occurred for a considerable period of time, the insured benefit under Article 1 of the English Life Insurance Act may be acknowledged to the policyholder if the policyholder is in a position to assume monetary liability in connection with his/her death or injury and the intention to conclude the insurance contract is to cover such legal liability.

Feasey

v. The court below held on February 2, 198 see the following: us to see the 2003 EWCA Civ 885: