Updated: Aug 20, 2021

A marine insurance term for abondoning a ship as dangerous or unseaworthy. This would normally be a total loss and the insurer would have a right to claim the subject matter. Notice of abandonement should be given to the insurer immediately.

Reference: The Penguin Business Dictionary, 3rd edt.

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James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.