​KembaraXtra – Legal Terms – Notice of Abandonment


A notice of abandonment is a formal declaration made by an insured person in marine insurance.


It is given to the insurer when the insured treats damaged or lost property as a constructive total loss.


By giving the notice, the insured effectively abandons rights over the property to the insurer and claims compensation as though the loss were total.


The concept is closely connected with the law relating to constructive total loss in marine insurance.