yebbA shipper obtains a marine policy covering the shipment of textiles from China to Poland. The declared value of the shipment is $15,000 although the real (market) value of the merchandise is...

yebbA shipper obtains a marine policy covering the shipment of textiles from China to Poland. The declared value of the shipment is $15,000 although the real (market) value of the merchandise is $7,500. If the goods are lost at sea, is the insurance company liable for $15,000?