Bare Act Search Results

Marine Insurance Act, 1963 Complete Act

State: Central

Year: 1963

.....any express or implied warranty. (4) Whether any particular circumstance, which is not disclosed, be material or not is, in each case, a question of fact. (5) The term "circumstance" includes any communication made to, or information received by, the assured. SECTION 21: DISCLOSURE BY AGENT EFFECTING INSURANCE Subject to the provisions of the preceding section as to circumstances which need not be disclosed, where an insurance is effected for the assured by an agent, the agent must disclose to the insurer- (a) every material circumstance which is known to himself, and an agent to insure is deemed to know every circumstance which in the ordinary course of business ought to be known by, or to have been communicated to, him; and (b) every material circumstance which the assured is bound to disclose, unless it comes to his knowledge too late to communicate it to the agent. SECTION 22: REPRESENTATIONS PENDING NEGOTIATION OF CONTRACT (1) Every material representation made by the assured or his agent to the insurer during the negotiations for the contract, and before the contract is concluded, must be true. If it be untrue the insurer may avoid the contract. (2) A representation is.....

Marine Insurance Act, 1963 Schedule I

Title: Schedule

State: Central

Year: 1963

.....said goods and merchandises, and ship, etc., or any part thereof. And in case of any loss or misfortune it shall be lawful to the assured, their factors, servants and assigns, to sue, labour, and travel for, in and about the defence, safeguards and recovery of the said goods and merchandises and ship etc., or any part thereof, without prejudice to this Insurance; to the charges whereof we, the assurers, will contribute each one according to the rate and quantity of his sum herein assured. And it is especially declared and agreed that no acts of the insurer or insured in recovering, saving, or preserving the property insured shall be considered as a waiver, or acceptance of abandonment. And so we, the assurers, are contended, and do hereby promise and bind ourselves, each one for his own part, our heirs, executors, and goods to the assured, their executors, administrators, and assigns, for the true performance of the premises, confessing ourselves paid the consideration due into us for this assurance by the assured, at and after the rate of. In witness whereof, we, the assurers, have subscribed our names and sums assured in MEMORANDUM N.B.-- Corn, fish, salt, fruit,.....

Marine Insurance Act, 1963 Section 2

Title: Definitions

State: Central

Year: 1963

In this Act, unless the context otherwise requires,-- (a) "contract of marine insurance" means a contract of marine insurance as defined by section 3; (b) "freight" includes the profit derivable by a ship-owner from the employment of his ship to carry his own goods or other movables, as well as freight payable by a third party, but does not include passage money; (c) "insurable property" means any ship, goods or other movables which are exposed to maritime perils; (d) "marine adventure" includes any adventure where-- (i) any insurable property is exposed to maritime perils; (ii) the earnings or acquisition of any freight, passage money, commission, profit or other pecuniary benefit, or the security for any advances, loans, or disbursements is endangered by the exposure of insurable property to maritime perils; (iii) any liability to a third party may be incurred by the owner of or other person interested in or responsible for, insurable property by reason of maritime perils; (e) "maritime perils" means the perils consequent on, or incidental to, the navigation of the sea, that is to say, perils of the sea, fire, war perils, pirates, rovers, thieves, captures,.....

Marine Insurance Act, 1963 Section 51

Title: Excuse for Deviation or Delay

State: Central

Year: 1963

(1) Deviation or delay in prosecuting the voyage contemplated by the policy is excused-- (a) where authorised by any special term in the policy; or (b) where caused by circumstances beyond the control of the master and his employer; or (c) where reasonably necessary in order to comply with an express or implied warranty; or (d) where reasonably necessary for the safety of the ship or subject-matter insured; or (e) for the purpose of saving human life or aiding a ship in distress where human life may be in danger; or (f) where reasonably necessary for the purpose of obtaining medical or surgical aid for any person on board the ship; or (g) where caused by the barratrous conduct of the master or crew, if barratry be one of the perils insured against. (2) When the cause excusing the deviation or delay ceases to operate, the ship must resume her course, and prosecute her voyage, with reasonable despatch.