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THE MARINE INSURANCE ACT, 1963

ACT NO. 11 OF 1963 · Enacted [18th April, 1963.] · 90 sections

MARINE INSURANCE

Section 3.Marine insurance defined.
Section 4.Mixed sea and land risks.
Section 5.Lawful marine adventure.

INSURABLE INTEREST

Section 6.Avoidance of wagering contracts.
Section 7.Insurable interest defined.
Section 8.When interest must attach.
Section 9.Defeasible or contingent interest.
Section 10.Partial interest.
Section 11.Reinsurance.
Section 12.Bottomry.
Section 13.Master’s and seamen’s wages.
Section 14.Advance freight.
Section 15.Charges of insurance.
Section 16.Quantum of interest.
Section 17.Assignment of interest.

INSURABLE VALUE

Section 18.Measure of insurable value.

DISCLOSURE AND REPRESENTATIONS

Section 19.Insurance is uberrimae fidei.
Section 20.Disclosure by assured.
Section 21.Disclosure by agent effecting insurance.
Section 22.Representations pending negotiation of contract.
Section 23.When contract is deemed to be concluded.

THE POLICY

Section 24.Contract must be embodied in policy.
Section 25.What policy must specify.
Section 26.Signature of insurer.
Section 27.Voyage and time policies.
Section 28.Designation and subject-matter.
Section 29.Valued policy.
Section 30.Unvalued policy.
Section 31.Floating policy by ship or ships.
Section 32.Construction of terms in policy.
Section 33.Premium to be arranged.

DOUBLE INSURANCE

Section 34.Double insurance.

WARRANTIES, ETC.

Section 35.Nature of warranty.
Section 36.When breach of warranty excused.
Section 37.Express warranties.
Section 38.Warranty of neutrality.
Section 39.No implied warranty of nationality.
Section 40.Warranty of good safety.
Section 41.Warranty of seaworthiness of ship.
Section 42.No implied warranty that goods are seaworthy.
Section 43.Warranty of legality.

THE VOYAGE

Section 44.Implied condition as to commencement of risk.
Section 45.Alteration of port of departure.
Section 46.Sailing for different destination.
Section 47.Change of voyage.
Section 48.Deviation.
Section 49.Several ports of discharge.
Section 50.Delay in voyage.
Section 51.Excuse for deviation or delay.

ASSIGNMENT OF POLICY

Section 52.When and how policy is assignable.
Section 53.Assured who has no interest cannot assign.

THE PREMIUM

Section 54.When premium payable.

LOSS AND ABANDONMENT

Section 55.Included and excluded losses.
Section 56.Partial and total loss.
Section 57.Actual total loss.
Section 58.Missing ship.
Section 59.Effect of transhipment, etc.
Section 60.Constructive total loss defined.
Section 61.Effect of constructive total loss.
Section 62.Notice of abandonment.
Section 63.Effect of abandonment.

PARTIAL LOSSES (INCLUDING SALVAGE AND GENERAL AVERAGE AND PARTICULAR CHARGES)

Section 64.Particular average loss.
Section 65.Salvage charges.
Section 66.General average loss.

MEASURE OF INDEMNITY

Section 67.Extent of liability of insurer for loss.
Section 68.Total loss.
Section 69.Partial loss of ship.
Section 70.Partial loss of freight.
Section 71.Partial loss of goods, merchandise, etc.
Section 72.Apportionment of valuation.
Section 73.General average contributions and salvage charges.
Section 74.Liabilities to third parties.
Section 75.General provisions as to measure of indemnity.
Section 76.Particular average warranties.
Section 77.Successive losses.
Section 78.Suing and labouring clause.

RIGHTS OF INSURER ON PAYMENTS

Section 79.Right of subrogation.
Section 80.Right of contribution.
Section 81.Effect of under-insurance.

RETURN OF PREMIUM

Section 82.Enforcement of return.
Section 83.Return by agreement.
Section 84.Return for failure of consideration.

SUPPLEMENTAL

Section 85.Ratification by assured.
Section 86.Implied obligation varied by agreement or usage.
Section 87.Reasonable time, etc., a question of fact.
Section 88.Covering note as evidence.
Section 89.Power to apply Act with modifications, etc., in certain cases.
Section 90.Certain provisions to override Transfer of Property Act, 1882.
Section 91.Savings.
Section 92.[Repealed.]