abandonment to insurer
- The act of the insured in notifying the insurer that owing to damage done to the subject of the insurance he elects to take the amount of the insurance in the place of the subject thereof, the remnant of which he cedes to the insurer. 29A Am J Rev ed Ins § 1572. See fifty percent rule (1).
Ballentine's law dictionary. Anderson, W.S.. 1998.
Look at other dictionaries:
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