Section 5 in The Emergency Risks (Goods) Insurance Scheme
5. Voluntary insurance.
(1)Any person who carries on business as a seller or supplier of goods insurable under the Act and which are owrie36y him in the course of such business may, at his option, take out a policy of insurance in respect of such goods against emergency risks, notwithstanding the fact that the value of such goods in one and the same Presidency town or district does not exceed fifty thousand rupees.(2)Any person referred to in clauses (a) to (d) of sub-section (2) of Section 5 may at this option take out a policy of insurance in respect of the goods referred to in any of the said clauses.(3)Where any voluntary insurance of goods is made under this paragraph, liability of the Central Government as insurer shall not extend to more than eighty per cent of the insurable value of the goods insured.
