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Voyage and Time Policies In Marine Insurance Act 1963

Voyage and Time Policies In Marine Insurance Act 1963

Insurance
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Section 27 recognises two types of Marine insurance policies – a Voyage Policy and a Time Policy. A Voyage Policy, as the name suggests, provides insurance cover only for a particular voyage and expires at the end of the voyage. Time Policy, on the other hand, provides insurance coverage for a specific period irrespective of the expiry of the voyage. However, a Time Policy for a period exceeding one year is void.

Insurance Law And Practice - ICSI
Voyage and Time Policies In Marine Insurance Act 1963 Voyage and Time Policies In Marine Insurance Act 1963 Reviewed by Ikpokolo Francis on Tuesday, May 16, 2017 Rating: 5

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