Multiple choice

In marine insurance, what is the right of an insured to abandon lost or damaged property and still claim full settlement from an insurer subject to certain restrictions called?

  1. Annulment

  2. Abdication

  3. Abandonment

  4. Partaking

  5. Relinquishment

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The right of an insured to abandon lost or damaged property and still claim full settlement from an insurer subject to certain restrictions is called abandonment.