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CHAPTER 22 PARTIAL LOSSES

Marine Insurance: Law and Practice

CHAPTER 22 PARTIAL LOSSES I INTRODUCTION 22.1 In ascertaining the measure of indemnity, the court is performing at least two, hopefully complementary, functions. The first is to fulfil the general objective of indemnifying the assured in accordance with the agreement of the parties as expressed in the policy. The second, more specifically, is assessment of the extent of the assured’s loss in precise financial terms, so far as it is capable of doing so in accordance with established rules.

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