# Marine Insurance Act 1906, Section 68: Total loss.


Subject to the provisions of this Act and to any express provision in the policy, where there is a total loss of the subject-matter insured,—
(1) If the policy be a valued policy, the measure of indemnity is the sum fixed by the policy:
(2) If the policy be an unvalued policy, the measure of indemnity is the insurable value of the subject-matter insured.

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Source: https://www.legislation.gov.uk/ukpga/Edw7/6/41/section/68 (the official version)
Page: https://openlegislation.uk/marine-insurance-act-1906/section-68
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.