A clause used on hull policies making the entire policy premium fully earned if the insurance company pays a total loss for the insured vessel. There is no return premium due the Assured if the total loss occurs before the end of the policy period
Association of Marine Underwriters of San Francisco (AMUSF), Glossary of Marine Insurance and Shipping Terms, http://www.amusf.com/Definitions_A.htm, CA, USA 2011. (Mrtm Insur and Shipping - Amer) {575}