Section 57 of the Marine Insurance Act, 1963 – Actual total loss

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Section 57: Actual total loss

  • (1) Where the subject-matter insured is destroyed, or so damaged as to cease to be a thing of the kind insured, or where the assured is irretrievably deprived thereof, there is an actual total loss.
  • (2) In the case of an actual total loss no notice of abandonment need be given.

Source: official text of The Marine Insurance Act, 1963 as published on India Code (PDF). All sections of the Marine Insurance Act, 1963.

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