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MARINE INSURANCE ACT 1906 - SECT 32



32.(1) Where two or more policies are effected by or on behalf of the assured
on the same adventure and interest or any part thereof, and the sums insured
exceed the indemnity allowed by this Act, the assured is said to be
over-insured by double insurance.

(2) Where the assured is over-insured by double insurance

(a)The assured, unless the policy otherwise provides, may claim payment from
the insurers in such order as he may think fit, provided that he is not
entitled to receive any sum in excess of the indemnity allowed by this Act;

(b)Where the policy under which the assured claims is a valued policy, the
assured must give credit as against the valuation for any sum received by him
under any other policy without regard to the actual value of the
subject-matter insured;

(c)Where the policy under which the assured claims is an unvalued policy he
must give credit, as against the full insurable value, for any sum received by
him under any other policy;

(d)Where the assured receives any sum in excess of the indemnity allowed by
this Act, he is deemed to hold such sum in trust for the insurers, according
to their right of contribution among themselves.

Nature of warranty.



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© 1906 Crown Copyright

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