chapter  21
16 Pages

Losses

Section 60(2) endeavours to provide particular instances of constructive total loss and is considered below.12

21.7 In essence, if subject matter of the contract description is no longer available to the assured, there is an actual total loss; whereas, if this is not the case, but avoidance of total loss appears impossible or is only achievable by expense exceeding the value of the subject matter, then there is a constructive total loss.