Report No. 21

Marine Insurance

Contents
	Marine Insurance
1.	No Indian Statute on marine insurance
2.	Need for legislation
3.	Desirability of following the English Marine Insurance Act, 1906
4.	Departure from English law
5.	Definition of ship included
6.	Insurable value of ships driven by power other than steam
7.	Deviation for saving property
8,9.	Abandonment-effect of subsequent acts at the insurer as change of circumstances
10.	Sale of insured ship without repair-amount to be paid by insurer
11.	Other points
12.	Appendices
	Index to Appendix I
Appendix I	Proposals as shown in the form or a Draft Bill
	The Marine Insurance Bill, 1961
Chapter I	Preliminary
1.	Short title and commencement
2.	Definitions
Chapter II	Marine Insurance
3.	Marine insurance defined
4.	Mixed sea and land risks
5.	Lawful marine adventure
6.	Insurable interest defined
7.	Interests which may, in particular, be insured
8.	Quantum of insurable interest in certain cases
9.	Avoidance of wagering contracts
10.	When interest must attach
11.	Right of mortgagee, consignee, etc. to insure on behalf of other persons interested
12.	Reinsurance
13.	Measure of insurable value
Chapter III	Disclosures and Representations
14.	Marine insurance to be a contract of utmost good faith
15.	Disclosure by assured
16.	Disclosure by agent effecting insurance
17.	Representations pending negotiation of contract
18.	When contract is deemed to be concluded
Chapter IV	The Policy
19.	Contract must be embodied in a policy
20.	What policy must specify
21.	Signature of insurer
22.	Voyage and time policy
23.	Designation of subject matter
24.	Valued policy
25.	Unvalued policy
26.	Floating policy by ship or ships
27.	Form of and construction of terms in policy
28.	Premium to be arranged
29.	Double insurance
Chapter V	The Premium
30.	When premium payable
31.	Policy effected through broker
32.	Effect of receipt on policy
Chapter VI	Warranties
33.	Nature of warranty
34.	Express warranty
35.	Warranty must be complied with
36.	When breach of warranty excused
37.	Warranty of neutrality
38.	No implied warranty of nationality
39.	Warranty of good safety
40.	Warranty of seaworthiness of ship
41.	No implied warranty that goods are seaworthy
42.	Warranty of legality
Chapter VII	The Voyage
43.	Implied condition as to commencement of risk
44.	Alteration of port of departure
45.	Sailing for different destination
46.	Change of voyage
47.	Deviation
48.	Several ports of discharge
49.	Delay in voyage
50.	Excuses for deviation or delay
51.	Effect of transhipment, etc
Chapter VIII	Assignment
52.	Transfer of policy of marine insurance
53.	Assured having no interest cannot assign
54.	Assignment of rights under policy of marine insurance
55.	Assignment of interest
56.	Overriding effect of Chapter
Chapter IX	Loss and Abandonment
57.	Included and excluded losses
58.	Partial and total loss
59.	Actual total loss
60.	Missing ship
61.	Constructive total loss defined
62.	Effect of constructive total loss
63.	Notice of abandonment
64.	Effect of abandonment
Chapter X	Partial Losses (Including Salvage and General Average and Particular Charges)
65.	Particular average loss
66.	Salvage charge
67.	General average loss
Chapter XI	Measure of Indemnity
68.	Extent of liability of the insurer for loss
69.	Total loss
70.	Partial loss of ship
71.	Partial loss of freight
72.	Partial loss of goods, merchandise, etc
73.	Apportionment of valuation
74.	General average contributions and salvage charges
75.	Liabilities to third parties
76.	General provisions as to measure of indemnity
77.	Particular average warranties
78.	Successive losses
79.	Suing and labouring clause
Chapter XII	Rights of Insurer on Payment
80.	Right of subrogation
81.	Right of contribution
82.	Effect of under-insurance
Chapter XIII	Return of Premium
83.	Enforcement of return
84.	Return by agreement
85.	Return for failure of consideration
Chapter XIV	Mutual Insurance
86.	Modification of Act in case of mutual insurance
Chapter XV	Miscellaneous
87.	Ratification by assured
88.	Implied obligations varied by agreement or usage
89.	Reasonable time, etc., a question of fact
90.	Slip as evidence
91.	Savings
	The Schedule
	Form of Policy1
	Rules for Construction of Policy
Appendix II	Notes on Clauses
	Existing law in India
	Existing law in England
	Clause 1
	Clause 2
	Clause 3
	Clause 4
	Clause 5
	Clause 6
	Clause 7(1 to 7)
	Clause 8
	Clause 9
	Clause 10
	Clause 11 and 12
	Clause 13
	Clause 14
	Clause 15
	Clause 16
	Clause 17
	Clause 18
	Clause 19
	Clause 20
	Clause 21
	Clause 22
	Clause 23
	Clause 24
	Clause 25
	Clause 26
	Clause 27
	Clause 28
	Clause 29
	Clause 30
	Clause 31
	Clause 32
	Clause 33
	Clause 34 and 35
	Clause 36
	Clause 37 and 38
	Clause 39 and 40
	Clauses 41 to 44
	Clause 45
	Clause 46
	Clause 47
	Clause 48
	Clause 49
	Clause 50
	Clause 51
	Clauses 52 and 53
	Clause 54 to 56
	Clause 57
	Clause 58
	Clause 59
	Clause 60
	Clause 61
	Clause 62
	Clause 63
	Clause 64
	Clause 65
	Clause 66
	Clause 67
	Clause 68
	Clause 69
	Clause 70
	Clause 71,72
	Clause 73
	Clause 74
	Clause 75
	Clause 76,77
	Clause 78
	Clause 79
	Clause 80
	Clause 81
	Clause 82 to 84
	Clause 85
	Clause 86
	Clause 87 to 91
The Schedule	Rule 15 of the Rules of Construction
Appendix III	Showing the Provision in The (English) Marine Insurance Act, 1906, and the Corresponding, if any, in Appendix 1
Appendix IV	Suggestions in Respect of other Acts