Owner-claimant rule

Term · Insurance and risk management · MLC-T-INS-002466

A principle in insurance law, particularly in marine and cargo insurance, stipulating that only the legal owner of the insured property at the time of loss has the standing to file a claim. This rule prevents third parties, such as consignees or financiers who do not hold title, from claiming directly against the policy for loss or damage. The bill of lading or other title documents are used to establish ownership when a claim is presented.

Table 1. Record
Identifier	MLC-T-INS-002466
Field	Insurance and risk management

Record as JSON

{
  "id": "MLC-T-INS-002466",
  "term": "Owner-claimant rule",
  "field": "Insurance and risk management",
  "definition": "A principle in insurance law, particularly in marine and cargo insurance, stipulating that only the legal owner of the insured property at the time of loss has the standing to file a claim. This rule prevents third parties, such as consignees or financiers who do not hold title, from claiming directly against the policy for loss or damage. The bill of lading or other title documents are used to establish ownership when a claim is presented.",
  "url": "https://mlchart.com/terminology/insurance/owner-claimant-rule/"
}

Record 2,490 of 3,748 in Insurance and risk management terminology (MLC-0106). Request the full dataset.