Section 72: Apportionment of valuation .-(1) Where different species of property are insured under a single valuation, the valuation must be apportioned over the different species in proportion to their respective insurable values, as in the case of an unvalued policy. The insured value of any part of a species is such proportion of the total insured value of the same as the insurable value of the part bears to the insurable value of the whole, ascertained in both cases as provided by this Act

Q: What does Section 72 of The Marine Insurance Act, 1963 (TMIA) deal with?

Section 72 TMIA pertains to "Apportionment of valuation .-(1) Where different species of property are insured under a single valuation, the valuation must be apportioned over the different species in proportion to their respective insurable values, as in the case of an unvalued policy. The insured value of any part of a species is such proportion of the total insured value of the same as the insurable value of the part bears to the insurable value of the whole, ascertained in both cases as provided by this Act". It is part of the The Marine Insurance Act, 1963, a legislation enacted by the Parliament of India. Section 72 of The Marine Insurance Act, 1963 (TMIA) governs apportionment of valuation .-(1) Where different species of property are insured under a single valuation, the valuation must be apportioned over the different species in proportion to their respective insurable values, as in the case of an unvalued policy. The insured value of any part of a species is such proportion of the total insured value of the same as the insurable value of the part bears to the insurable value of the whole, ascertained in both cases as provided by this Act. As verified on 19 May 2026.

Q: Is Section 72 TMIA still in force?

Yes, Section 72 of the The Marine Insurance Act, 1963 is currently in force across the Republic of India.

Q: What is धारा 72 TMIA?

धारा 72 TMIA is the Devanagari Hindi reference for Section 72 of the The Marine Insurance Act, 1963. Section 72 of The Marine Insurance Act, 1963 (TMIA) governs apportionment of valuation .-(1) Where different species of property are insured under a single valuation, the valuation must be apportioned over the different species in proportion to their respective insurable values, as in the case of an unvalued policy. The insured value of any part of a species is such proportion of the total insured value of the same as the insurable value of the part bears to the insurable value of the whole, ascertained in both cases as provided by this Act. As verified on 19 May 2026.

Q: What is Dhara 72 TMIA?

Dhara 72 TMIA is the Roman Hindi reference for Section 72 of the The Marine Insurance Act, 1963. "Dhara" means "Section" in Hindi. Section 72 of The Marine Insurance Act, 1963 (TMIA) governs apportionment of valuation .-(1) Where different species of property are insured under a single valuation, the valuation must be apportioned over the different species in proportion to their respective insurable values, as in the case of an unvalued policy. The insured value of any part of a species is such proportion of the total insured value of the same as the insurable value of the part bears to the insurable value of the whole, ascertained in both cases as provided by this Act. As verified on 19 May 2026.

Q: How to cite Section 72 of The Marine Insurance Act, 1963?

Cite as: "Section 72, The Marine Insurance Act, 1963 (TMIA)" in legal briefs. For academic writing, use the BlueBook format: The Marine Insurance Act, 1963, § 72 (India).

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Section 72 TMIA (The Marine Insurance Act, 1963): Apportionment of valuation .-(1) Where different species of property are insured under a single valuation, the valuation must be apportioned over the different species in proportion to their respective insurable values, as in the case of an unvalued policy. The insured value of any part of a species is such proportion of the total insured value of the same as the insurable value of the part bears to the insurable value of the whole, ascertained in both cases as provided by this Act | Law on Tips | Law on Tips