Section 75 of the Marine Insurance Act, 1963 – General provisions as to measure of indemnity

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Section 75: General provisions as to measure of indemnity

  • (1) Where there has been a loss in respect of any subject-matter not expressly provided for in the foregoing provisions of this Act, the measure of indemnity shall be ascertained as nearly as may be, in accordance with those provisions, in so far as applicable to the particular case.
  • (2) Nothing in the provisions of this Act relating to the measure of indemnity shall affect the rules relating to double insurance, or prohibit the insurer from disproving interest wholly or in part, or from showing that at the time of the loss the whole or any part of the subject-matter insured was not at risk under the policy.

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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