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Marine Insurance Act, 1963

[Act No. 11 of 1963 dated 18th. April, 1963]

 

Contents 

Sections

Particulars

1

Short title and commencement

2

Definitions

3

Marine insurance defined

4

Mixed sea and land risks

5

Lawful marine adventure

6

Avoidance of wagering contracts

7

Insurable interest defined

8

When interest must attach

9

Defensible or contingent interest

10

Partial interest

11

Reinsurance

12

Bottomry

13

Master's and seamen's wages

14

Advance freight

15

Charges of insurance

16

Quantum of interest

17

Assignment of interest

18

Measure of insurable value

19

Insurance is uberrimae fidei

20

Disclosure by assured

21

Disclosure by agent effecting insurance

22

Representations pending negotiation of contract

23

When contract is deemed to be concluded

24

Contract must be embodied in policy

25

What policy must specify

26

Signature of insurer

27

Voyage and time policies

28

Designation and subject matter

29

Valued policy

30

Unvalued policy

31

Floating policy by ship or ships

32

Construction of terms in policy

33

Premium to be arranged

34

Double insurance

35

Nature of warranty

36

When breach of warranty excused

37

Express warranties

38

Warranty of neutrality

39

No. implied warranty of nationality

40

Warranty of good safety

41

Warranty of seaworthiness of ship

42

No implied warranty that goods are seaworthy

43

Warranty of legality

44

Implied condition as to commencement of risk

45

Alteration of port of departure

46

Sailing for different destination

47

Change of voyage

48

Deviation

49

Several ports of discharge

50

Delay in voyage

51

Excuse for deviation or delay

52

When and how policy is assignable

53

Assured who has no interest can not assign

54

When premium payable

55

Included and excluded losses

56

Partial and total loss

57

Actual total loss

58

Missing ship

59

Effect of transhipment, etc.

60

Constructive total loss defined

61

Effect of constructive total loss

62

Notice of abandonment

63

Effect of abandonment

64

Particular average loss

65

Salvage charges

66

General average loss

67

Extent of liability of insurer for loss

68

Total loss

69

Partial loss of ship

70

Partial loss of freight

71

Partial loss of goods, merchandise, etc.

72

Apportionment of valuation

73

General average contributions and salvage charges

74

Liabilities to third parties

75

General provisions as to measure of indemnity

76

Particular average warranties

77

Successive losses

78

Suing and laboring clause

79

Rights of subrogation

80

Right of Contribution

81

Effect of under-insurance

82

Enforcement of return

83

Return by agreement

84

Return for failure of consideration

85

Ratification by assured

86

Implied obligation varied by agreement or usage

87

Reasonable time, etc., a question of fact

88

Covering note as evidence

89

Power to apply Act with modifications, etc., in certain cases

90

Certain provisions to override Transfer of Property Act, 1882

91

Savings

Schedule 

Form of Policy

 

An Act to codify the law relating to marine insurance.

BE it enacted by Parliament in the Fourteenth Year of the Republic of India as follows: -



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