68. Subject to the provisions of this Act and to any express provision in the policy, where there is a total loss of the subject‑matter insured —(a) if the policy be a valued policy, the measure of indemnity is the sum fixed by the policy; (b) if the policy be an unvalued policy, the measure of indemnity is the insurable value of the subject‑matter insured.
Source: Singapore Statutes Online (Attorney-General's Chambers), © Government of Singapore.
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