3The policy shall not by virtue of this Act be required—
(a)to cover liability in respect of the death, arising out of and in the course of his employment, of a person in the employment of a person insured by the policy or of bodily injury sustained by such a person arising out of and in the course of his employment;
(b)to cover liability in respect of damage to the vessel to which the policy relates;
(c)to cover liability in respect of goods carried on or in the vessel to which the policy relates, or any vessel drawn or propelled by such vessel;
(d)to cover any liability of a person in respect of damage to property in his custody or under his control;
(e)to cover any contractual liability; or
(f)to provide cover in respect of any one accident for a sum in excess of such sum as may for the time being be prescribed by the Board for the purposes of this paragraph.