LexSection 23 — When contract is deemed to be concluded.
The Marine Insurance Act, 1963
A contract of marine insurance is deemed to be concluded when the proposal of the assured is accepted by the insurer, whether the policy be then issued or not; and for the purpose of showing when the proposal was accepted, reference may be made to the slip, covering note or other customary memorandum of the contract, although it be unstamped.Open in Lexace · Ask the AI about this section