When an insurer takes title to damaged property after paying a total loss, the recovered property is called:

When an insurer takes title to damaged

Multiple choice — select the best answer

ASubrogation
BIndemnity
CSalvage
DBetterment

✓ Correct answer: C. Salvage Salvage is damaged property the insurer takes ownership of after settling; its sale proceeds offset the claim cost.

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Topic: Claims Handling Process

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When an insurer takes title to damaged property after paying a total loss, the recovered property is called:

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