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The Supreme Court clarified issues on sum insured

16.11.2006

The Supreme Court opined in connection with the maximum sum insured under the insurance contract that the latter should not always be defined as a fixed or concrete sum. The parties to the contract may agree upon grounds of determining the sum insured. In no case the insurer has an obligation to pay compensation in excess of the sum insured. However, if the actual damage is smaller than the maximum sum insured, the insurer should compensate only for the actual damage sustained.

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