Section 241(4) in The Navy (Pay And Allowances) Regulations, 1966
(4)The insurance policies shall bear an endorsement on the forms specified in Appendix XI-E. After purchase of the conveyance the Controller of Defence Accounts (Navy), Bombay, shall obtain from the officer drawing the advance a letter in the form prescribed in Appendix Xl-F addressed to the Insurance Company with which conveyance is insured notifying it that the Government is interested in the insurance policy secured. He shall himself forward this letter to the Insurance Company and obtain the acknowledgement. In case of insurance effected on annual basis, this procedure shall be repeated every year until the advance has been fully repaid to the Government. In cases where the insurance Company does not issue fresh policy every year and the original policy in which the clauses as in Appendix XI-h already stand inserted is renewed, the Controller of Defence Accounts (Navy), Bombay, shall ensure that the original policy has been renewed by the Company and the relevant clauses in Appendix XII: already stand included in the original policy and that the vehicle has been insured for an amount not less than the outstanding amount of the advance plus interest thereon.
