„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:
Insurance and Risk ManagementView all itemsMurphy, Paul R. and Wood, Donald F. (2010). Contemporary Logistics. 10th Edition. Pearson Education. pp. 342-344.