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Marine Insurance Act, 1963

33. Premium to be arranged

(1) Where an insurance is effected at a premium to be arranged, and no arrangement is made, a reasonable premium is payable.

(2) Where an insurance is effected on the terms that an additional premium is to be arranged in a given event, and that event happens out no arrangement is made, then a reasonable additional premium is payable.

Marine Insurance Act, 1963 Back

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