Nigeria - 1961 - Transportation

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 a 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. The Act also covers Marine adventure and maritime perils, avoidance of wagering or gaming contracts.

Process Flow

National Assembly ⬤

Office of the President ⬤

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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 a 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. The Act also covers Marine adventure and maritime perils, avoidance of wagering or gaming contracts.

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