5132insurance.pptVIP

5.3.2. Marine Insurance Types of Risks, Losses and Expenses Covered Actual Total Loss Constructive total loss Unless a marine policy otherwise provides, a loss is a constructive total loss if the subject-matter insured is reasonably abandoned because the actual total loss of the subject-matter appears unavoidable or the preservation of the subject-matter from actual total loss would entail costs exceeding its value when the costs are incurred. General Average General Average Case Study Case Study Marine Cargo Clauses of PICC Case Study 2. W.P.A. All Risks A