A condition precedent to a constructive total loss in marine insurance. The Insurer usually rejects the ‘notice of abandonment’ and agrees to place the Insured in a position as though a writ had been issued against the insurer.
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BREACH OF WARRANTY
Whether or not it affects a claim on the policy the Insured must comply with all warranties in the policy. In the event of breach of warranty by the Insured, the Insurer is automatically, discharged from all liability from the date of the breach, but the Insurer remains liable for Insured losses occurring prior to that date.