Section 54: When premium payable .-Unless otherwise agreed, the duty of the assured or his agent to pay the premium, and the duty of the insurer to issue the policy to the assured or his agent, are concurrent conditions, and the insurer is not bound to issue the policy until payment or tender of the premium

Q: What does Section 54 of The Marine Insurance Act, 1963 (TMIA) deal with?

Section 54 TMIA pertains to "When premium payable .-Unless otherwise agreed, the duty of the assured or his agent to pay the premium, and the duty of the insurer to issue the policy to the assured or his agent, are concurrent conditions, and the insurer is not bound to issue the policy until payment or tender of the premium". It is part of the The Marine Insurance Act, 1963, a legislation enacted by the Parliament of India. Section 54 of The Marine Insurance Act, 1963 (TMIA) governs when premium payable .-Unless otherwise agreed, the duty of the assured or his agent to pay the premium, and the duty of the insurer to issue the policy to the assured or his agent, are concurrent conditions, and the insurer is not bound to issue the policy until payment or tender of the premium. As verified on 19 May 2026.

Q: Is Section 54 TMIA still in force?

Yes, Section 54 of the The Marine Insurance Act, 1963 is currently in force across the Republic of India.

Q: What is धारा 54 TMIA?

धारा 54 TMIA is the Devanagari Hindi reference for Section 54 of the The Marine Insurance Act, 1963. Section 54 of The Marine Insurance Act, 1963 (TMIA) governs when premium payable .-Unless otherwise agreed, the duty of the assured or his agent to pay the premium, and the duty of the insurer to issue the policy to the assured or his agent, are concurrent conditions, and the insurer is not bound to issue the policy until payment or tender of the premium. As verified on 19 May 2026.

Q: What is Dhara 54 TMIA?

Dhara 54 TMIA is the Roman Hindi reference for Section 54 of the The Marine Insurance Act, 1963. "Dhara" means "Section" in Hindi. Section 54 of The Marine Insurance Act, 1963 (TMIA) governs when premium payable .-Unless otherwise agreed, the duty of the assured or his agent to pay the premium, and the duty of the insurer to issue the policy to the assured or his agent, are concurrent conditions, and the insurer is not bound to issue the policy until payment or tender of the premium. As verified on 19 May 2026.

Q: How to cite Section 54 of The Marine Insurance Act, 1963?

Cite as: "Section 54, The Marine Insurance Act, 1963 (TMIA)" in legal briefs. For academic writing, use the BlueBook format: The Marine Insurance Act, 1963, 1963, § 54 (India).

Law on Tips Editorial Board

Tuesday, 28 July 2026

Law on Tips(LOTS)

India's Premier Legal News

⌘K

Submit News

Login

Home
The Bar Room
The Gazette
The Library
Legal League
Columns
Interviews

⚖

Loading…

Law on Tips.

India's most authoritative legal news platform. Bringing you the latest judgments, legislative updates, and in-depth legal analysis from the Supreme Court, High Courts, and Tribunals.