„Known Loss“

What does Known Loss stand for?

1. loss discovered before or at the time of delivery of a shipment.

2. An evident loss (as opposed to a concealed loss or damage to contents within a package.)

3. A loss of which the insured and/or the insurer is aware at the time the insurance is effected.

Source:

Murphy, Paul R. and Wood, Donald F. (2010). Contemporary Logistics. 10th Edition. Pearson Education. pp. 342-344.

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