Section 11 in The Emergency Risks (Goods) Insurance Scheme
11. Issue of policy and verification of previous policies.
(1)If an application has been correctly made out in the prescribed form, accompanied by a treasury chalan evidencing payment of the premium into a treasury under the head of account specified in sub-paragraph (2) of paragraph 8 of the Government agent shall issue a policy of insurance as soon as possible after the receipt of such an application.(2)If no challan accompanies an application, or if the chalan is not in order the application shall be returned to the applicant for re-submission along with the required chalan.(3)If the chalan accompanying an application is in order, but the application for insurance is not in accordance with the form set out in the First Schedule, the chalan may be retained by the Government agent and the application returned to the applicant for re-submission after being correctly made out.(4)If the chalan accompanying an application form is for an amount which falls short of the premium due on the insurable value of the goods a policy for such proportion of the insurable value as the amount paid under the chalan bears to the premium due shall be issued, and the applicant shall be asked to make a further application in respect of the balance of the insurable value of property which may remain uncovered.(5)Notwithstanding anything contained in the foregoing provisions of this paragraph, if any applicant has taken out an insurance in respect of the same goods or any part thereof against fire, marine, accident of export credit insurance risks with any insurer other than the Government agent himself, the Government agent may,in his discretion, postpone the issue of the policy until equities have been made from that insurer.
