India’s Marine Insurance Act, 1963, in effect since 1 August 1963, forms the legal backbone of marine insurance in India, adapting the UK’s 1906 Act to local needs. It establishes core principles such as utmost good faith, mandating full disclosure of material facts; insurable interest, requiring a genuine stake in the insured vessel or cargo at the time of loss; indemnity, which limits compensation to actual loss without profit; proximate cause, focusing on the immediate rea