An assured contests an indemnity claim of $15,000.00 for losses suffered under a Marine Insurance policy, which the underwriter declines on the defense that he (the insurer) had avoided the contract as a result of a breach of warranty on the part of the insured. The adjudication established and upheld the avoidance against the insured. Investigation however revealed that 65% of the loss occurred prior to the ascertained breach of warranty.

i. Determine whether or not the insured has a recoverable claim.

ii. If yes, what is the measure of the indemnity?

iii. Support your answer with the relevant marine insurance principle.