A contract of Marine Insurance shall not be submitted in evidence unless it is embodied in a Marine Policy accordance with Marine Insurance Act. The policy may be executed and issued either at the time when the contract is concluded or afterwards. Dictionary Meaning of " POLICY " :  A set of ideas or a plan of what to do in particular situations that has been agreed to officially by a group of people, a business organization, a government, or a political party. Before proceeding further, please go through an example below:A Marine Policy must specify the following:Name of the … [Read more...]