Marine Insurance Act, 1963

Bare Act · 1963

An Act to codify the law relating to marine insurance.

Act number: 11 of 1963
Enacted: 18 April 1963
Contents: 92 sections · 16 chapters

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Contents

Sections

Marine Insurance

Insurable Interest

Section 6 – Avoidance of wagering contracts (preview)
Section 7 – Insurable interest defined (preview)
Section 8 – When interest must attach (preview)
Section 9 – Defeasible or contingent interest (preview)
Section 10 – Partial interest (preview)
Section 11 – Reinsurance (preview)
Section 12 – Bottomry (preview)
Section 13 – Master’s and seamen’s wages (preview)
Section 14 – Advance freight (preview)
Section 15 – Charges of insurance (preview)
Section 16 – Quantum of interest (preview)
Section 17 – Assignment of interest (preview)

Insurable Value

Section 18 – Measure of insurable value (preview)

Disclosure And Representations

Section 19 – Insurance is uberrimae fidei (preview)
Section 20 – Disclosure by assured (preview)
Section 21 – Disclosure by agent effecting insurance (preview)
Section 22 – Representations pending negotiation of contract (preview)
Section 23 – When contract is deemed to be concluded (preview)

The Policy

Section 24 – Contract must be embodied in policy (preview)
Section 25 – What policy must specify (preview)
Section 26 – Signature of insurer (preview)
Section 27 – Voyage and time policies (preview)
Section 28 – Designation and subject-matter (preview)
Section 29 – Valued policy (preview)
Section 30 – Unvalued policy (preview)
Section 31 – Floating policy by ship or ships (preview)
Section 32 – Construction of terms in policy (preview)
Section 33 – Premium to be arranged (preview)

Double Insurance

Section 34 – Double insurance (preview)
Section 35 – Nature of warranty (preview)
Section 36 – When breach of warranty excused (preview)
Section 37 – Express warranties (preview)
Section 38 – Warranty of neutrality (preview)
Section 39 – No implied warranty of nationality (preview)
Section 40 – Warranty of good safety (preview)
Section 41 – Warranty of seaworthiness of ship (preview)
Section 42 – No implied warranty that goods are seaworthy (preview)
Section 43 – Warranty of legality (preview)

The Voyage

Section 44 – Implied condition as to commencement of risk (preview)
Section 45 – Alteration of port of departure (preview)
Section 46 – Sailing for different destination (preview)
Section 47 – Change of voyage (preview)
Section 48 – Deviation (preview)
Section 49 – Several ports of discharge (preview)
Section 50 – Delay in voyage (preview)
Section 51 – Excuse for deviation or delay (preview)

Assignment Of Policy

Section 52 – When and how policy is assignable (preview)
Section 53 – Assured who has no interest cannot assign (preview)

The Premium

Section 54 – When premium payable (preview)

Loss And Abandonment

Section 55 – Included and excluded losses (preview)
Section 56 – Partial and total loss (preview)
Section 57 – Actual total loss (preview)
Section 58 – Missing ship (preview)
Section 59 – Effect of transhipment, etc (preview)
Section 60 – Constructive total loss defined (preview)
Section 61 – Effect of constructive total loss (preview)
Section 62 – Notice of abandonment (preview)
Section 63 – Effect of abandonment (preview)

Partial Losses (Including Salvage And General Average And Particular Charges)

Section 64 – Particular average loss (preview)
Section 65 – Salvage charges (preview)
Section 66 – General average loss (preview)

Measure Of Indemnity

Section 67 – Extent of liability of insurer for loss (preview)
Section 68 – Total loss (preview)
Section 69 – Partial loss of ship (preview)
Section 70 – Partial loss of freight (preview)
Section 71 – Partial loss of goods, merchandise, etc (preview)
Section 72 – Apportionment of valuation (preview)
Section 73 – General average contributions and salvage charges (preview)
Section 74 – Liabilities to third parties (preview)
Section 75 – General provisions as to measure of indemnity (preview)
Section 76 – Particular average warranties (preview)
Section 77 – Successive losses (preview)

Rights Of Insurer On Payments

Section 79 – Right of subrogation (preview)
Section 80 – Right of contribution (preview)
Section 81 – Effect of under-insurance (preview)

Return Of Premium

Section 82 – Enforcement of return (preview)
Section 83 – Return by agreement (preview)
Section 84 – Return for failure of consideration (preview)

Supplemental

Section 85 – Ratification by assured (preview)
Section 86 – Implied obligation varied by agreement or usage (preview)
Section 87 – Reasonable time, etc., a question of fact (preview)
Section 88 – Covering note as evidence (preview)
Section 89 – Power to apply Act with modifications, etc., in certain cases (preview)
Section 90 – Certain provisions to override Transfer of Property Act, 1882 (preview)
Section 91 – Savings (preview)
Section 92 – Repealed (preview)