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MARINE INSURANCE ACT 1906 - SECT 85

85.(1) Where two or more persons mutually agree to insure each other against
marine losses there is said to be a mutual insurance.

(2) The provisions of this Act relating to the premium do not apply to mutual
insurance, but a guarantee, or such other arrangement as may be agreed upon,
may be substituted for the premium.

(3) The provisions of this Act, in so far as they may be modified by the
agreement of the parties, may in the case of mutual insurance be modified by
the terms of the policies issued by the association, or by the rules and
regulations of the association.

(4) Subject to the exceptions mentioned in this section, the provisions of
this Act apply to a mutual insurance.

Ratification by assured.

© 1906 Crown Copyright

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