MARINE INSURANCE ACT 1909 - SECT 87 Effect of under insurance
MARINE INSURANCE ACT 1909 - SECT 87
Effect of under insuranceWhere the assured is insured for an amount less than the insurable value, or, in the case of a valued policy, for an amount less than the policy valuation, he or she is deemed to be his or her own insurer in respect of the uninsured balance.