VALUED-POLICY LAW

VALUED-POLICY LAW

valued-policy law. A statute requiring insurance companies to pay the full amount of the insurance to the insured in the event of a total loss, regardless of the true value of the property at the time of loss. [Cases: Insurance 2171. C.J.S. Insurance ¡ì¡ì 1108¨C1109, 1204.]
What is the legal translation of VALUED-POLICY LAW in Chinese?
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