Insurance Companies Act (Northern Ireland) 1968 (c. 6)

SCHEDULES

[F1 SCHEDULE 3 N.I. RULES FOR VALUING POLICIES AND LIABILITIES

F1 Rep. with saving, 1973 c. 58; 1976 NI 3; 1980 c. 25

Life Policies N.I.

N.I. Policies other than life policies and capital redemption policies

4 N.I. The value of a current policy of any kind other than a life policy or a capital redemption policy shall be such portion of the last premium paid as is proportionate to the unexpired portion of the period in respect of which the premium was paid: but this rule shall not apply to a policy of insurance upon goods, merchandise or property on board of a vessel or aircraft, or a policy of insurance against transit risks or risks incidental to transit, but any such policy shall be valued in like manner as it would have been valued if this Act had not passed.