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.