Certain causes and conditions, listed in the policy, which are not covered.
Certain causes and conditions, listed in the policy, which are not covered.
Occurs when the subject matter insured or part thereof is not exposed to risk. For example, a policy is effected to cover a marine shipment of 100 boxes but only 80 boxes are sent. The Insured is entitled to a refund of premium on the 20 boxes that were not exposed to risk.
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