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Section 68: Total loss.

The Marine Insurance Act, 1963Central Act · Act 11 of 1963

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.

Where this provision sits

ActThe Marine Insurance Act, 1963
Section68
Marginal noteTotal loss.
JurisdictionCentral
StatusIn force as published by the source

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