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Marine Insurance Act.

Country/Territory
Nigeria
Document type
Legislation
Date
1961 (2013)
Source
FAO, FAOLEX
Long title
An Act to provide for marine insurance and to prohibit gambling on loss by maritime perils.
Subject
Sea
Keyword
Navigation Liability/compensation
Geographical area
Africa, North Atlantic, Western Africa
Abstract

The Act provides for contracts of marine insurance and related matters. A contract of marine insurance is a contract whereby the insurer undertakes to indemnify the assured, in manner and to the extent thereby agreed, against marine losses, that is to say, the losses incident to marine adventure. A contract of marine insurance may, by its express terms, or by usage of trade, be extended so as to protect the assured against losses on inland waters or on any land risk which may be incidental to any sea voyage. Matters regulated include: policy, assignment of policy, warranties, premiums, double insurance, indemnity, etc.

Full text
English
Website
www.placng.org