In force · As amended up to 2026-08
14. Advance freight.— In the case of advance freight, the person advancing the freight has an insurable interest, in so far as such freight is not repayable in case of loss.
14. Stranded.— Where the ship has stranded, the insurer is liable for the excepted losses although the loss is not attributable to the stranding, provided that when the standing takes place the risk has attached and, if the policy be on goods, that the damaged goods are on board.
Source: India Code