law: Marine Insurance Act, 1963 
  84. Return for failure of consideration 
  (1) Where the
  
  consideration for the payment of the premium totally fails, and there has been
  
  no fraud or illegality on the part of the assured or his agents, the premium is
  
  thereupon returnable to the assured.
  (2) Where the
  
  consideration for the payment of the premium is apportionable and there is a
  
  total failure of any apportionable part of the consideration, a proportionate
  
  part of the premium is, under the like conditions, thereupon returnable to the
  
  assured.
  (3) In particular-
  (a) where the policy is void, or is avoided by
  
  the insurer as from the commencement of the risk, the premium is returnable,
  
  provided there has been no fraud or illegality on the part of the assured; but
  
  if the risk is not apportionable, and has once attached, the premium is not
  
  returnable;
  (b) where the subject-matter insured, or part
  
  thereof, has never been imperiled the premium, or, as the case may be, a
  
  proportionate part thereof, is returnable :
  Provided  that where the subject-matter has been
  
  insured "lost or not lost", and has arrived in safety at the time
  
  when the contract is concluded, the premium is not returnable unless, at such
  
  time, the insurer knew of the safe arrival;
  (c) where the assured has no insurable
  
  interest throughout the currency of the risk the premium is returnable,
  
  provided that this rule does not apply to a policy effected by way of wagering;
  (d) where the assured has a defensible
  
  interest which is terminated during the currency of the risk, the premium is
  
  not returnable;
  (e) where the assured has over-insured under
  
  an unvalued policy, a proportionate part of the premium is returnable;
  (f) subject to the foregoing provisions, where
  
  the assured has over-insured by double insurance, a proportionate part of the
  
  several premiums is returnable:
  Provided that, if the policies
  
  are effected at different times, and any earlier policy has at any time borne
  
  the entire risk, or if a claim has been paid on the policy in respect of the
  
  full sum insured thereby, no premium is returnable in respect of that policy,
  
  and when the double insurance is effected knowingly by the assured no premium
  
  is returnable.