Money received by an insurer in respect of a loss, thus reducing the loss, by way of subrogation, salvage or reinsurance.
Money received by an insurer in respect of a loss, thus reducing the loss, by way of subrogation, salvage or reinsurance.
The duty of a ship owner or cargo owner to take all reasonable and proper steps or measures to ensure the safety of his own property and/or the property in his care and also to avoid damage to the property of others.