Actual total loss

Actual total loss (ATL) is defined under s. 57 of the MIA 1906. This chapter assesses the circumstances listed under s. 57 and how such conditions can be satisfied in an argument that the subject matter insured became an ATL. Key words: subject matter insured is destroyed, subject matter insured ceased to be a thing of the kind insured, irretrievable deprivation, impossibility of regaining the possession of the subject matter insured when recovery is out of the power of the insurer and assured, pirates, ransom, capture, actual total loss of freight, measure of indemnity, physical damage v pure economic loss, MIA 1906, s. 16, s. 68, mortgagees’ interest insurance.