Section 28 of the Marine Insurance Act, 1963 – Designation and subject-matter

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Section 28: Designation and subject-matter

  • (1) The subject-matter insured must be designated in a marine policy with reasonable certainty.
  • (2) The nature and extent of the interest of the assured in the subject-matter insured need not be specified in the policy.
  • (3) Where the policy designates the subject-matter insured in general terms, it shall be construed to apply to the interest intended by the assured to be covered.
  • (4) In the application of this section regard shall be had to any usage regulating the designation of the subject-matter insured.

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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