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The Marine Insurance Act, 1963

Central

An Act to codify the law relating to marine insurance.

Act number
11 of 1963
Ministry
Ministry of Finance
Department
Department of Financial Services
Enacted
18 Apr 1963

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

92 sections

  1. Section 1Short title and commencement.
  2. Section 2Definitions.
  3. Section 3Marine insurance defined.
  4. Section 4Mixed sea and land risks.
  5. Section 5Lawful marine adventure.
  6. Section 6Avoidance of wagering contracts.
  7. Section 7Insurable interest defined.
  8. Section 8When interest must attach.
  9. Section 9Defeasible or contingent interest.
  10. Section 10Partial interest.
  11. Section 11Reinsurance.
  12. Section 12Bottomry.
  13. Section 13Master’s and seamen’s wages.
  14. Section 14Advance freight.
  15. Section 15Charges of insurance.
  16. Section 16Quantum of interest.
  17. Section 17Assignment of interest.
  18. Section 18Measure of insurable value.
  19. Section 19Insurance is uberrimae fidei.
  20. Section 20Disclosure by assured.
  21. Section 21Disclosure by agent effecting insurance.
  22. Section 22Representations pending negotiation of contract.
  23. Section 23When contract is deemed to be concluded.
  24. Section 24Contract must be embodied in policy.
  25. Section 25What policy must specify.
  26. Section 26Signature of insurer.
  27. Section 27Voyage and time policies.
  28. Section 28Designation and subject-matter.
  29. Section 29Valued policy.
  30. Section 30Unvalued policy.
  31. Section 31Floating policy by ship or ships.
  32. Section 32Construction of terms in policy.
  33. Section 33Premium to be arranged.
  34. Section 34Double insurance.
  35. Section 35Nature of warranty.
  36. Section 36When breach of warranty excused.
  37. Section 37Express warranties.
  38. Section 38Warranty of neutrality.
  39. Section 39No implied warranty of nationality.
  40. Section 40Warranty of good safety.
  41. Section 41Warranty of seaworthiness of ship.
  42. Section 42No implied warranty that goods are seaworthy.
  43. Section 43Warranty of legality.
  44. Section 44Implied condition as to commencement of risk.
  45. Section 45Alteration of port of departure.
  46. Section 46Sailing for different destination.
  47. Section 47Change of voyage.
  48. Section 48Deviation.
  49. Section 49Several ports of discharge.
  50. Section 50Delay in voyage.
  51. Section 51Excuse for deviation or delay.
  52. Section 52When and how policy is assignable.
  53. Section 53Assured who has no interest cannot assign.
  54. Section 54When premium payable.
  55. Section 55Included and excluded losses.
  56. Section 56Partial and total loss.
  57. Section 57Actual total loss.
  58. Section 58Missing ship.
  59. Section 59Effect of transhipment, etc.
  60. Section 60Constructive total loss defined.
  61. Section 61Effect of constructive total loss.
  62. Section 62Notice of abandonment.
  63. Section 63Effect of abandonment.
  64. Section 64Particular average loss.
  65. Section 65Salvage charges.
  66. Section 66General average loss.
  67. Section 67Extent of liability of insurer for loss.
  68. Section 68Total loss.
  69. Section 69Partial loss of ship.
  70. Section 70Partial loss of freight.
  71. Section 71Partial loss of goods, merchandise, etc.
  72. Section 72Apportionment of valuation.
  73. Section 73General average contributions and salvage charges.
  74. Section 74Liabilities to third parties.
  75. Section 75General provisions as to measure of indemnity.
  76. Section 76Particular average warranties.
  77. Section 77Successive losses.
  78. Section 78Suing and labouring clause.
  79. Section 79Right of subrogation.
  80. Section 80Right of contribution.
  81. Section 81Effect of under-insurance.
  82. Section 82Enforcement of return.
  83. Section 83Return by agreement.
  84. Section 84Return for failure of consideration.
  85. Section 85Ratification by assured.
  86. Section 86Implied obligation varied by agreement or usage.
  87. Section 87Reasonable time, etc., a question of fact.
  88. Section 88Covering note as evidence.
  89. Section 89Power to apply Act with modifications, etc., in certain cases.
  90. Section 90Certain provisions to override Transfer of Property Act, 1882.
  91. Section 91Savings.
  92. Section 92Repealed.