Marine Insurance Act.
Ministry of Transportation, Nigeria
This is an Act to provide for marine insurance and to prohibit gambling on loss by maritime perils. Regulation 3 defines marine insurance. 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. Regulation 4 concerns mixed sea and land risks. A contract of marine insurance may, by its express terms, or by usage of trade, is 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. It also covers marine adventure and maritime perils, avoidance of wagering or gaming contracts etc.
Process Flow
National Assembly ⬤
Office of the President ⬤
Contacts
Ahmad Lawan
Senate President
National Assembly
Muhammadu Buhari
President of the Federal Republic of Nigeria
Marine Insurance Act. Current Version
January 2022
This is an Act to provide for marine insurance and to prohibit gambling on loss by maritime perils. Regulation 3 defines marine insurance. 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. Regulation 4 concerns mixed sea and land risks. A contract of marine insurance may, by its express terms, or by usage of trade, is 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. It also covers marine adventure and maritime perils, avoidance of wagering or gaming contracts etc.
Thank you for requesting an expert analysis
A member of our team will review your request and reply back to the email address on file.