Marine Insurance Act

4. Marine adventure defined

Edition: 2023-12-11 · In force

4. Marine adventure defined

(1)Subject to this Act, every lawful marine adventure may be the subject of a contract of marine insurance.

(2)In particular, there is a marine adventure where—

(a)any insurable property is exposed to maritime perils;

(b)the earning or acquisition of any freight, passage money, commission, profit or other pecuniary benefit, or the security for any advances, loan or disbursements, is endangered by the exposure of insurable property to maritime perils; or

(c)any liability to a third party may be incurred by the owner of, or other person interested in or responsible for, insurable property, by reason of maritime perils.

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Source: Kenya Law