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[Cites 0, Cited by 0] [Section 71] [Entire Act]

Union of India - Subsection

Section 71(1) in The Marine Insurance Act, 1963

(1)where part of the goods, merchandise or other movable insured by a valued policy is totally lost, the measure of indemnity is such proportion of the sum fixed by the policy as the insurable value of the part lost bears to the insurable value of the whole, ascertained as in the case of an unvalued policy;