Section 172
Compulsory insurance or other financial security for maritime claims subject to limitation.
The Merchant Shipping Act, 2025
About this Act
An Act to consolidate and amend the law relating to merchant shipping to ensure compliance with India's obligation under the maritime treaties and international instruments to which India is a party and also to ensure the development of Indian shipping and efficient maintenance of Indian mercantile marine in a manner best suited to serve the national interest and for matters connected therewith or incidental thereto.
(1) Every registered owner of an Indian vessel and of any vessel other than an Indian vessel entering or departing a port in India or operating in the coastal waters shall maintain compulsory insurance or such other financial security from an insurer or organisation as may be prescribed, in respect of such vessel.
(2) The insurance shall cover maritime claims subject to limitation specified under section 162.
(3) The amount of insurance for each and every vessel per incident shall be at least equal to the relevant maximum amount for the limitation of liability provided under section 165 and for passenger claims the relevant maximum amount for the limitation of liability under section 166.
(4) Any vessel departing a port in India in contravention of this section shall be liable to be detained by such authority as may be prescribed.
(2) The insurance shall cover maritime claims subject to limitation specified under section 162.
(3) The amount of insurance for each and every vessel per incident shall be at least equal to the relevant maximum amount for the limitation of liability provided under section 165 and for passenger claims the relevant maximum amount for the limitation of liability under section 166.
(4) Any vessel departing a port in India in contravention of this section shall be liable to be detained by such authority as may be prescribed.