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MARINE INSURANCE ACT 1906 - SECT 73

General average contributions and salvage charges.

73.(1) Subject to any express provision in the policy, where the assured has
paid, or is liable for, any general average contribution, the measure of
indemnity is the full amount of such contribution, if the subject-matter
liable to contribution is insured for its full contributory value; but, if
such subject-matter be not insured for its full contributory value, or if only
part of it be insured, the indemnity payable by the insurer must be reduced in
proportion to the under insurance, and where there has been a particular
average loss which constitutes a deduction from the contributory value, and
for which the insurer is liable, that amount must be deducted from the insured
value in order to ascertain what the insurer is liable to contribute.

(2) Where the insurer is liable for salvage charges the extent of his
liability must be determined on the like principle.

© 1906 Crown Copyright

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