The clause reads : The measure of indemnity in respect of claims for unrepaired damage shall be the reasonable depreciation in the market value of the time this insurance terminates arising from such unrepaired damage, but not exceeding the reasonable cost of repairs.In no case shall the Underwriters be liable for unrepaired damage in the event of a subsequent total loss (whether or not covered under this insurance) sustained during the period covered by this insurance or any extension thereof.The Underwriters shall not be liable in respect of unrepaired damage for more than the insured value at the time this insurance terminates.Unreported Claims : A reserve, based on estimates, to set up claims that have occurred but have not yet been reported to the insurer as of the time when either the policy has expired or the insurer is preparing its annual statement. See Also: “IBNR – Incurred but not reported.”