§ 1990 Marine Insurance Partial Risk

Insurance Code·California

AI SummaryVerified

This law says that if you have a marine insurance policy that puts a price on cargo, you only count the value for the part of the cargo that is actually at risk.

Key Takeaways

•Only applies to marine insurance policies that assign a value to the cargo.
•If only part of the cargo faces danger, only that part is counted.
•The insured amount is reduced in proportion to the portion that is actually at risk.

Example

A ship is carrying 100 crates of goods, but a storm only damages 20 crates.

Because only 20% of the cargo was at risk, the insurance will only pay for 20% of the total insured amount, not the whole shipment.

AI-generated — May contain errors. Not legal advice. Always verify source.

Official Source

View on CA.gov

§ 1990 Marine Insurance Partial Risk

In case of a valued policy of marine insurance on freightage or cargo, if only a part of the subject matter is exposed to risk, the valuation applies only in proportion to such part. (Enacted by Stats. 1935, Ch. 145.)

Last verified: January 11, 2026

Key Terms

valued policy marine insurance freightage cargo valuation applies only in proportion

References

Official text at leginfo.legislature.ca.gov
California Legislature. Insurance Code. Section 1990.

Key Takeaways

Example

Key Terms

Related Statutes

References

Key Takeaways

Example

Key Terms

Related Statutes

References