INSURANCE CONTRACTS ACT 1984 - SECT 42 Maximum cover for premium
INSURANCE CONTRACTS ACT 1984 - SECT 42
Maximum cover for premium The maximum liability of the insurer under a contract of general
insurance is the highest amount of insurance cover that the insurer would, at
the time when the contract was entered into, have been prepared to provide
under a contract that was, apart from the maximum liability under that
contract, in the same terms and in respect of the same subject - matter and
risk as those of the first - mentioned contract.