(2)
A time policy which is made for any time exceeding twelve months is invalid.
Chapter I — Full Text
Section 27
Voyage and time policies .-(1) Where the contract is to insure the subject-matter at and from, or from one place to another or others, the policy is called a "voyage policy", and where the contract is to insure the subject-matter for a definite period of time, the policy is called a "time policy". A contract for both voyage and time may be included in the same policy
Printed from Law on Tips • The Marine Insurance Act, 1963