RECOVERY

Posted on July 20, 2013July 20, 2013

Money received by an insurer in respect of a loss, thus reducing the loss, by way of subrogation, salvage or reinsurance.

This entry was posted in . Bookmark the permalink.

Post navigation

NEW FOR OLD

An agreement by an Insurer not to subtract amounts for depreciation or wear & tear, from a claim presented for replacement ‘as new’, of insured property damaged or destroyed.