Loss Recovery

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October 5, 2023 5 min read Definitions

Compensatory Damages: Understanding Legal Terminology in Insurance

Law Insurance Legal Terminology Compensatory Damages Insurance Claims Loss Recovery Legal Damages

Learn about compensatory damages in insurance, where damages are awarded to insured individuals for losses or injuries suffered, including mental and physical suffering, lost time, or expenses.

October 2, 2023 4 min read Definitions

Salvage in General Insurance: Minimizing Losses through Reclaimed Property

Insurance Risk Management Loss Mitigation Insurance Salvage Loss Recovery Claims General Insurance Property

Learn about 'Salvage' in general insurance, where insurers take over property to minimize losses and understand its role in the insurance industry.