law: Marine Insurance Act, 1963 
  28. Designation and subject matter 
  (1) The subject-matter
  
  insured must be designated in a marine policy with reasonable certainty.
  (2) The nature and
  
  extent of the interest of the assured in the subject-matter insured need not be
  
  specified in the policy.
  (3) Where the policy
  
  designates the subject-matter insured in general terms, it shall be construed
  
  to apply to the interest intended by the assured to be covered.
  (4) In the application
  
  of this section regard shall be had to any usage regulating the designation of
  
  the subject-matter insured.