Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
actual total loss
1 See total loss. 2. Marine insurance. The total loss of a vessel covered by an insurance policy (1) by its real and substantive destruction, (2) by injuries that destroy its existence as a distinct individual of a particular class, (3) by its being reduced to a wreck irretrievably beyond repair, or (4) by its being placed beyond the insured's control and beyond the insured's power of recovery.
constructive total loss
See LOSS.
total loss
The complete destruction of insured property so that nothing of value remains and the subject matter no longer exists in its original form. ( Generally, a loss is total if, after the damage occurs, no substantial remnant remains standing that a reasonably prudent uninsured owner, desiring to rebuild, would use as a basis to restore the property to its original condition. - Also termed actual total loss. Cf. partial loss; constructive total loss.