Report No. 21

Chapter VIII

Assignment

52. Transfer of policy of marine insurance.-

(1) A policy of marine insurance may be transferred by assignment unless it contains terms expressly prohibiting assignment, and may be assigned either before or after loss.

(2) A policy of marine insurance may be assigned by endorsement thereon or in any other customary manner.

[Cf sections 50(1) and 50(3), English Act and section 130A, Transfer of Property Act]