| salvage |
The amount received by an insurer from the sale of property (usually damaged) on which he has paid a total loss to the insured.
Ãâó: www.saia.co.za/ConsumerIssues/CI_Glossary.htm
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|---|---|
| salvage |
The procedure whereby property is protected or saved. This can commence at the same time as firefighting or it can occur later. Salvage operations often include the covering of furnishings with tarps known as
Ãâó: www.riotacts.com/fire/glossary.html
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| salvage |
A recovery of all or part of the value of an insured item on which a claim has been paid. The insurer will normally dispose of the item and apply the proceeds to reduce the cost of the claim.
Ãâó: www.biba.org.uk/consumer/support/jargonbuster.html
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| salvage |
Process of recovering a ship or cargo from a loss or damage due to maritime perils.
Ãâó: www.insurexchange.com/glossary/pandi.htm
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| salvage |
Property which has been damaged by an insured peril but still has some realizable value; this value is taken into account in determining the amount of the loss.
Ãâó: www.oneilandco.com/insurnce/trmnolgy.htm
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