Section 68
Issuance and terms of insurance policy.
About this Act
An Act to promote economical and safe transportation and trade through inland waters, to bring uniformity in application of law relating to inland waterways and navigation within the country, to provide for safety of navigation, protection of life and cargo, and prevention of pollution that may be caused by the use or navigation of inland vessels, to ensure transparency and accountability of administration of inland water transportation, to strengthen procedures governing the inland vessels, their construction, survey, registration, manning, navigation and such other matters connected therewith or incidental thereto.
(1) For the purposes of section 66, the policy of
insurance issued shall be a policy, which—
(a) is issued by an authorised insurer;
(b) insures the mechanically propelled inland vessel, any person or any classes of persons specified in the policy to the extent specified in section 66; and
(c) is a certificate of insurance issued by the insurer to the insured in such form and content, and subject to such conditions as may be prescribed by the Central Government.
(2) The terms and conditions to be incorporated in the contract of insurance entered between insurer and insured to cover the risks as provided in section 66 shall be such as may be prescribed by the Central Government.
(a) is issued by an authorised insurer;
(b) insures the mechanically propelled inland vessel, any person or any classes of persons specified in the policy to the extent specified in section 66; and
(c) is a certificate of insurance issued by the insurer to the insured in such form and content, and subject to such conditions as may be prescribed by the Central Government.
(2) The terms and conditions to be incorporated in the contract of insurance entered between insurer and insured to cover the risks as provided in section 66 shall be such as may be prescribed by the Central Government.