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Section 63: Effect of abandonment.

The Marine Insurance Act, 1963Central Act · Act 11 of 1963

(1) Where there is a valid abandonment the insurer is entitled to take over the interest of the assured in whatever may remain of the subject-matter insured, and all proprietary rights incidental thereto.

(2) Upon the abandonment of a ship, the insurer thereof is entitled to any freight in course of being earned, and which is earned by her subsequent to the casualty causing the loss, less the expenses of earning it incurred after the casualty; and, where the ship is carrying the owner's goods, the insurer is entitled to a reasonable remuneration for the carriage of them subsequent to the casualty causing the loss.

Where this provision sits

ActThe Marine Insurance Act, 1963
Section63
Marginal noteEffect of abandonment.
JurisdictionCentral
StatusIn force as published by the source

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