ABSTRACT
This chapter explains how measure of indemnity is assessed in the case of a partial loss. The key provisions are the MIA 1906, ss.16, 64, and 67–78. Key words: measure of indemnity, insurable value of ship, freight, goods, value at the commencement of the voyage, contract of indemnity, the prime cost to the assured, gross value, sound value of goods, damaged value, invoice price, partial loss of ship, partial loss of goods, partial loss of freight, reasonable cost of repair, ship repaired, ship partially repaired, ship has not been repaired, crew’s wages during repair, the depreciation of value, successive repaired and successive unrepaired partial losses.
