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The Insurance (Amendment) Regulations,2004.
$8,000,000 $7,000,000 x $8,000,000 = $5.600,000 $10,000,000 1 1 you will be paid $5,600,000 or 70% of your loss less any deductible stated in the policy example 3 where loss 1s cqual to value: should you have a total loss, that is, $10,000,000 then