Valued policy

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VALUED POLICY. A valued policy is one where the value has been set on the ship or goods insured, and this value has been inserted in the policy in the nature of liquidated damages, to save the necessity of proving it in case of loss. 1 Bouv. Inst. n. 1230.

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Peter Deeley, chairman of the Deeley Group, said the project was a valued contract for the firm, which had recently completed the Broomfield Medical Centre in Spon End and Tower Court in Foleshill Road.