Question
a.
Salvage is automatically returned to the insured.
b.
Salvage is disposed of as recommended by surveyors.
c.
Salvage becomes the property of third parties responsible for the loss.
d.
Salvage is retained by the insurer as additional compensation.
Posted under IC38 Life Insurance Agent Exam
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Q. In non-life claims, what happens to damaged property referred to as "Salvage" after a claim is settled?
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