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Marine Insurance Act, 1963


57. Actual total loss

(1) Where the subject-matter insured is destroyed, or so damaged as to cease to be a thing of the kind insured, or where the assured is irretrievably deprived thereof, there is an actual total loss.

 

(2) In the case of an actual total loss no notice of abandonment need be given.



Marine Insurance Act, 1963 Back




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