Section 9 in The Emergency Risks (Goods) Insurance Scheme
9. Insurable Value.
- The insurable value of goods for the purposes of this scheme shall be arrived at on the basis of the prices prevailing at the time that the policy of insurance covering the goods takes effect or is intended to take effect and shall whenever any such policy is replaced or renewed, be arrived at on the basis of the prices prevailing at the time that the policy is so replaced or renewed.
