Loss in Marine Insurance
Applied in 1 court decision — leading case 229 F. Supp. 298 - Rose v. United States (1964)
Most recently applied in 229 F. Supp. 298 - Rose v. United States (March 1964)
Enacted by Stats. 1935, Ch. 145.
An actual total loss is caused by:
(a) A total destruction of the subject matter of insurance.
(b) The loss of the subject matter by sinking, or by being broken up.
(c) Any damage to the subject matter which renders it valueless to the owner for the purposes for which he held it.
(d) Any other event which entirely deprives the owner of the possession, at the port of destination, of the subject matter.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.