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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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