J
JayR
Member
Hello,
I am still confused about the difference between salvage and subrogation.
I thought salvage was to do with property, e.g. the remains of a car or marine vessel and subrogation was when the insurer became legally responsible and could make recoveries through court proceedings.
In Q3, it seems subrogation is counted as the remains of damaged machinery and scrap from downed aircraft. I thought this is classed as salvage and not subrogation.
Please could someone explain this.
Thank you
I am still confused about the difference between salvage and subrogation.
I thought salvage was to do with property, e.g. the remains of a car or marine vessel and subrogation was when the insurer became legally responsible and could make recoveries through court proceedings.
In Q3, it seems subrogation is counted as the remains of damaged machinery and scrap from downed aircraft. I thought this is classed as salvage and not subrogation.
Please could someone explain this.
Thank you