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MARINE INSURANCE ACT 1906 - SECT 72

Apportionment of valuation.

72.(1) Where different species of property are insured under a single
valuation, the valuation must be apportioned over the different species in
proportion to their respective insurable values, as in the case of an unvalued
policy. The insured value of any part of a species is such proportion of the
total insured value of the same as the insurable value of the part bears to
the insurable value of the whole, ascertained in both cases as provided by
this Act.

(2) Where a valuation has to be apportioned, and particulars of the prime cost
of each separate species, quality, or description of goods cannot be
ascertained, the division of the valuation may be made over the net arrived
sound values of the different species, qualities, or descriptions of goods.

© 1906 Crown Copyright

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