Over-insurance Sample Clauses
Over-insurance. If the sum insured is more than the value of the property, the property is overinsured. The indemnity payable by ▇▇▇▇▇▇ in case of overinsurance shall be limited to the actual loss.
Over-insurance. Should the compensation under this insurance in the event of work disablement result in the insured receiving an income after tax that is higher than 90 per cent of their pay in the event of full work capacity after tax, compensation will only be paid up to a level of 90 per cent. Consequently, if this level has already been achieved through other insurance, no compensation will be paid under this insurance. In this case the premium corresponding to the over-insured part will not be repaid.