{"id":11578,"date":"2017-12-25T23:50:54","date_gmt":"2017-12-25T23:50:54","guid":{"rendered":"https:\/\/reunitethestates.org\/?page_id=11578"},"modified":"2017-12-25T23:50:54","modified_gmt":"2017-12-25T23:50:54","slug":"actual-total-loss-the-same-as-total-loss-although-primarily-used-in-marine-insurance","status":"publish","type":"page","link":"https:\/\/reunitethestates.org\/?page_id=11578","title":{"rendered":"Actual Total Loss – the same as total loss, although primarily used in marine insurance"},"content":{"rendered":"

actual total loss<\/span>:<\/span>
\n<\/strong>(1808)<\/span><\/p>\n

1.<\/strong> See total loss<\/a><\/strong>.<\/span><\/p>\n

2. <\/strong>Marine insurance<\/em>. The total loss of a vessel covered by an insurance policy <\/strong><\/span><\/p>\n

(1) by its real and substantive destruction,
\n(2) by injuries that destroy its existence as a distinct individual of a particular class,
\n(3) by its being reduced to a wreck irretrievably beyond repair, or
\n(4) by its being placed beyond the insured\u2019s control and beyond the insured\u2019s power of recovery.<\/strong> [1]<\/span><\/p>\n

1. This term as used in marine insurance means just what it implies, a total and actual loss to the insured of the subject matter of the insurance.\u00a0 To enable the insured to recover for a total loss, there must be a total destruction of value.\u00a0 It is not necessary to a total loss that there be an absolute destruction of the thing insured, so that nothing o it can be delivered at the point of destination, but there is a total loss if the thing is destroyed in specie, that is in the character for specie in which it was insured, even though some of its elements or parts may remain.\u00a0 29A Am J Rev ed Ins \u00a7 1570<\/span>.<\/strong> [2]<\/span><\/p>\n

References:<\/span><\/span><\/strong><\/p>\n

Disclaimer:<\/span><\/span><\/strong> All material throughout this website is pertinent to people everywhere, and is being utilized in accordance with Fair Use<\/a>.<\/span><\/strong><\/p>\n

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[1]: Black’s Law Dictionary <\/a>Deluxe Tenth Edition<\/a><\/span><\/strong> by Henry Campbell Black, Editor in Chief Bryan A. Garner. ISBN: 978-0-314-61300-4<\/span><\/strong><\/p>\n

[2]:\u00a0Ballantine\u2019s Law Dictionary\u00a0<\/a><\/span><\/strong>with Pronunciations<\/b><\/span><\/em>
\n<\/span><\/em><\/a>Third Edition<\/a>\u00a0by James A. Ballantine\u00a0<\/span><\/strong>(James Arthur 1871-1949).\u00a0\u00a0<\/span><\/em>Edited by William S. Anderson.\u00a0\u00a0\u00a9 1969 by THE LAWYER\u2019S CO-OPERATIVE PUBLISHING COMPANY.\u00a0 Library of Congress Catalog Card No. 68-30931<\/span><\/strong><\/p>\n

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