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MARINE INSURANCE ACT 1906 - SECT 68

Total loss.

68. Subject to the provisions of this Act and to any express provision in the
policy, where there is a total loss of the subject-matter insured,

(1)If the policy be a valued policy, the measure of indemnity is the sum fixed
by the policy:

(2)If the policy be an unvalued policy, the measure of indemnity is the
insurable value of the subject-matter insured.

© 1906 Crown Copyright

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