(a) Demonstrate the principle of utmost good faith as a long established principle under marine insurance contracts.

(b) The Blue Ribbon ship which is owned by the Siri Line Shipping was seized by Zuhal State during the war with Plato State. The Blue Ribbon is insured with the NBC Insurance Co. for hostility, heavy weather and fire. The Siri Line Shipping claims compensation for total loss of the ship from the NBC Insurance Co. Once the war is over, Zuhal State returns the ship and makes compensation for the period in which the ship cannot operate business transactions.

Discuss the legal rights of the Siri Line Shipping and NBC Insurance Co