Section 27 of the Marine Insurance Act, 1963 – Voyage and time policies

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Section 27: Voyage and time policies

  • (1) Where the contract is to insure the subject-matter at and from, or from one place to another or others, the policy is called a “voyage policy”, and, where the contract is to insure the subject-matter for a definite period of time, the policy is called a “time policy”. A contract for both voyage and time may be included in the same policy.
  • (2) A time policy which is made for any time exceeding twelve months is invalid.

Source: official text of The Marine Insurance Act, 1963 as published on India Code (PDF). All sections of the Marine Insurance Act, 1963.

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