Part IIC — Solvency Margin, Advance Payment Of Premium And Restrictions On The Opening Of A New Place Of Business

Section 64VB — No risk to be assumed unless premium is received in advance

Insurance Act, 1938 · Preview

(1) No insurer shall assume any risk in India in respect of any insurance business on which premium is not ordinarily payable outside India unless and until the premium payable is received by [it] or…