Section 73: General average contributions and salvage charges .-(1) Subject to any express provision in the policy, where the assured has paid, or is liable for, any general average contribution, the measure of indemnity is the full amount of such contribution if the subject-matter liable to contribution is insured for its full contributory value; but, if such subject-matter be not insured for its full contributory value, or if only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the under insurance, and where there has been a particular average loss which constitutes a deduction from the contributory value, and for which the insurer is liable, that amount must be deducted from the insured value in order to ascertain what the insurer is liable to contribute

Q: What does Section 73 of The Marine Insurance Act, 1963 (TMIA) deal with?

Section 73 TMIA pertains to "General average contributions and salvage charges .-(1) Subject to any express provision in the policy, where the assured has paid, or is liable for, any general average contribution, the measure of indemnity is the full amount of such contribution if the subject-matter liable to contribution is insured for its full contributory value; but, if such subject-matter be not insured for its full contributory value, or if only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the under insurance, and where there has been a particular average loss which constitutes a deduction from the contributory value, and for which the insurer is liable, that amount must be deducted from the insured value in order to ascertain what the insurer is liable to contribute". It is part of the The Marine Insurance Act, 1963, a legislation enacted by the Parliament of India. Section 73 of The Marine Insurance Act, 1963 (TMIA) governs general average contributions and salvage charges .-(1) Subject to any express provision in the policy, where the assured has paid, or is liable for, any general average contribution, the measure of indemnity is the full amount of such contribution if the subject-matter liable to contribution is insured for its full contributory value; but, if such subject-matter be not insured for its full contributory value, or if only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the under insurance, and where there has been a particular average loss which constitutes a deduction from the contributory value, and for which the insurer is liable, that amount must be deducted from the insured value in order to ascertain what the insurer is liable to contribute. As verified on 19 May 2026.

Q: Is Section 73 TMIA still in force?

Yes, Section 73 of the The Marine Insurance Act, 1963 is currently in force across the Republic of India.

Q: What is धारा 73 TMIA?

धारा 73 TMIA is the Devanagari Hindi reference for Section 73 of the The Marine Insurance Act, 1963. Section 73 of The Marine Insurance Act, 1963 (TMIA) governs general average contributions and salvage charges .-(1) Subject to any express provision in the policy, where the assured has paid, or is liable for, any general average contribution, the measure of indemnity is the full amount of such contribution if the subject-matter liable to contribution is insured for its full contributory value; but, if such subject-matter be not insured for its full contributory value, or if only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the under insurance, and where there has been a particular average loss which constitutes a deduction from the contributory value, and for which the insurer is liable, that amount must be deducted from the insured value in order to ascertain what the insurer is liable to contribute. As verified on 19 May 2026.

Q: What is Dhara 73 TMIA?

Dhara 73 TMIA is the Roman Hindi reference for Section 73 of the The Marine Insurance Act, 1963. "Dhara" means "Section" in Hindi. Section 73 of The Marine Insurance Act, 1963 (TMIA) governs general average contributions and salvage charges .-(1) Subject to any express provision in the policy, where the assured has paid, or is liable for, any general average contribution, the measure of indemnity is the full amount of such contribution if the subject-matter liable to contribution is insured for its full contributory value; but, if such subject-matter be not insured for its full contributory value, or if only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the under insurance, and where there has been a particular average loss which constitutes a deduction from the contributory value, and for which the insurer is liable, that amount must be deducted from the insured value in order to ascertain what the insurer is liable to contribute. As verified on 19 May 2026.

Q: How to cite Section 73 of The Marine Insurance Act, 1963?

Cite as: "Section 73, The Marine Insurance Act, 1963 (TMIA)" in legal briefs. For academic writing, use the BlueBook format: The Marine Insurance Act, 1963, § 73 (India).

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Table of Contents

The Marine Insurance Act, 1963

Chapter I — Full Text

Section 73

General average contributions and salvage charges .-(1) Subject to any express provision in the policy, where the assured has paid, or is liable for, any general average contribution, the measure of indemnity is the full amount of such contribution if the subject-matter liable to contribution is insured for its full contributory value; but, if such subject-matter be not insured for its full contributory value, or if only part of it be insured, the indemnity payable by the insurer must be reduced in proportion to the under insurance, and where there has been a particular average loss which constitutes a deduction from the contributory value, and for which the insurer is liable, that amount must be deducted from the insured value in order to ascertain what the insurer is liable to contribute

(2)

Where the insurer is liable for salvage charges the extent of his liabilities must be determined on the like principle.

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

TMIA

§71

Partial loss of goods, merchandise, etc .-Where there is a partial loss of goods, merchandise, or other movable, the measure of indemnity, subject to any express provision in the policy, is as follows:

TMIA

§17

Goods. - The term "goods" means goods in the nature of merchandise, and does not include personal effects or provisions and stores for use on board

TMIA

§26

Signature of insurer .-(1) A marine policy must be signed by or on behalf of the insurer

TMIA

§1

Short title and commencement .-(1) This Act may be called The Marine Insurance Act, 1963