Cap. 13 Art. 422When loss is presumed to have happened in the case of “time policies”.

(1) In the case of an insurance effected for a fixed period of time, when the times mentioned in the last preceding article have elapsed, the loss of the vessel shall be presumed to have happened within the period of the insurance.

(2) If there are several successive insurances for a fixed period of time, the loss is presumed to have happened within the period of the first insurance; or, in case of news received as contemplated in the last preceding article, within the period of that particular insurance to which the date of the last news corresponds.