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| Definition Of: |
Actual Total Loss
This relates to an insurance policy and can occur in any of four ways:
1) The property is completely destroyed:
2) The owner is irretrievably deprived of the property:
3) Goods change their character to such a degree that they can be said to be no longer the thing insured by the policy:
4) The subject matter of the insurance, be it ship or goods on board the ship, is recorded as missing at Lloydâs.
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Boating & Sailing INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 A: Page 1 of 33.
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