Where the assured has effected an insurance in express terms against any liability to a third party, the measure of indemnity, subject to any express provision in the policy, is the amount paid or payable by him to such third party in respect of such liability.
Section 74: Liabilities to third parties.
The Marine Insurance Act, 1963Central Act · Act 11 of 1963
Where this provision sits
| Act | The Marine Insurance Act, 1963 |
|---|---|
| Section | 74 |
| Marginal note | Liabilities to third parties. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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