MLchartDataset catalogue

Salvage

Term · Insurance and risk management · MLC-T-INS-003015

Damaged property that an insurer takes possession of after paying a claim, typically for a total loss. The insurer then sells or disposes of this property to recover some of the money paid out for the claim. The proceeds from the sale of salvage reduce the net cost of the claim to the insurance company.

Table 1. Record
IdentifierMLC-T-INS-003015
FieldInsurance and risk management
SubjectBusinessowners Policy
Record as JSON 
{
  "id": "MLC-T-INS-003015",
  "term": "Salvage",
  "field": "Insurance and risk management",
  "definition": "Damaged property that an insurer takes possession of after paying a claim, typically for a total loss. The insurer then sells or disposes of this property to recover some of the money paid out for the claim. The proceeds from the sale of salvage reduce the net cost of the claim to the insurance company.",
  "subject": "Businessowners Policy",
  "url": "https://mlchart.com/terminology/insurance/salvage/"
}

Record 3,039 of 3,682 in Insurance and risk management terminology (MLC-0106). Request the full dataset.