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MARINE INSURANCE ACT 1909 - SECT 37 Premium to be arranged

MARINE INSURANCE ACT 1909 - SECT 37

Premium to be arranged

  (1)   Where an insurance is effected at a premium to be arranged, and no arrangement is made, a reasonable premium is payable.

  (2)   Where an insurance is effected on the terms that an additional premium is to be arranged in a given event, and that event happens but no arrangement is made, then a reasonable additional premium is payable.