‘Salvage Charge’ are Related to-

  1. Life Insurance
  2. Marine Insurance
  3. Fire Insurance
  4. None of the above
Anurag Mishra Professor Asked on 28th November 2015 in Economics.
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    Answer: (2) Marine Insurance

    According to Marine Insurance Act, 1963, 65. Salavage charges;

    1. Subject to any express provision in the policy, salvage charges incurred in preventing a loss by perils isured against may be recovered as a loss by those perils.
    2. “salvage charges’ means the charges recoverable under maritine law by a salvor independiently of contract. They do not include the expenses of services of services in the nature of salvage rendered by the assured or his agents, or any person employed for hire by them, for the purpose of averting a peril insured against. Such exprenses, where properly incurred, may be recovered as particular charges or as a general loss, according to the circumstances under which they were incurred.
    Anurag Mishra Professor Answered on 28th November 2015.
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