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Actual Total Loss in United Kingdom

Definition of Actual Total Loss

In accordance with the work A Dictionary of Law, this is a description of Actual Total Loss : (in marine insurance)

A loss of a ship or cargo in which the subject matter is destroyed or damaged to such an extent that it can no longer be used for its purpose, or when the insured is irretrievably deprived of it. If the ship or cargo is the subject of a *valued policy, the measure of indemnity is the sum fixed by the policy; if the policy is unvalued, the measure of indemnity is the insurable value of the subject insured.

Compare constructive total loss.

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(2015, 04). Actual Total Loss lawi.org.uk Retrieved 06, 2021, from https://lawi.org.uk/actual-total-loss/

04 2015. 06 2021 <https://lawi.org.uk/actual-total-loss/>

"Actual Total Loss" lawi.org.uk. lawi.org.uk, 04 2015. Web. 06 2021. <https://lawi.org.uk/actual-total-loss/>

"Actual Total Loss" lawi.org.uk. 04, 2015. Accesed 06 2021. https://lawi.org.uk/actual-total-loss/

Agostino Von Hassell, 'Actual Total Loss' (lawi.org.uk 2015) <https://lawi.org.uk/actual-total-loss/> accesed 2021 June 19

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Schema Summary

  • Article Name: Actual Total Loss
  • Author: Agostino Von Hassell
  • Description: Definition of Actual Total Loss In accordance with the work A Dictionary of Law, this is a description of Actual Total Loss [...]

This entry was last updated: April 12, 2015

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