Reports of Civil and Criminal Cases Decided by the Court of Appeals of Kentucky Volume 101
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1899 edition. Excerpt: ...face of the policy; and in cases of partial loss of the property insured, the liability of the company shall not exceed the actual loss of the party insured: Provided, That the estimated value of the property insured may be diminished to the extent of any depreciation in the value 'of the property occurring between the dates of the policy and the loss: And provided further. That the insured shall be liable for any fraud he may practice in fixing the value of the property, if the company be misled thereby." Counsel for appellant insists that this has always been the law, and simply means that when the parties absolutely agree on the amount to be paid in case of loss, or, in other words. when a valued policy is written that then there is no question of value or amount to be paid by the 'insurer, and quotes at some length definitions given by writers of wha.t a valued policy-is. ' The history of this legislation is that, at the time this act was passed by the legislature, there was another bill before it. providing, among other things, "that insurance companies that take fire or storm risks on real property in this Commonwealth, in settling their liability on policies issued after this act takes eflect (in case of total loss thereof by fire or torm), shall, when the cash value of the property insured is adjusted at a sum less than the amount on which premiums have been paid, refund to the assured the pro rata of said premiums paid on the difference between the amount on which premiums have been paid and the cash value of the property at the time of the fire asascertained by the adjustment" (House Journal of 1891-92, page 1035). This was ofiered as a substitute to the "Follis bill," but was voted down...
- Paperback | 236 pages
- 189 x 246 x 13mm | 426g
- 13 Sep 2013
- Illustrations, black and white