constructive total loss — ➔ loss * * * constructive total loss UK US noun [C or U] (ABBREVIATION CTL) ► INSURANCE a situation in which insured property, especially a ship, is not completely destroyed, but so badly damaged that the cost of repairing it is greater than the… … Financial and business terms
constructive total loss — see loss Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 … Law dictionary
constructive total loss — A loss in which the item insured is not totally destroyed but is so severely damaged that it is not financially worth repairing. The Marine Insurance Act (1906) defines a constructive total loss as one in which «the subject matter insured is… … Big dictionary of business and management
constructive total loss — In insurance, exists whenever insured item of property has lost its total usefulness and insured is deprived of its benefit totally. See also constructive loss actual total loss … Black's law dictionary
constructive total loss — In insurance, exists whenever insured item of property has lost its total usefulness and insured is deprived of its benefit totally. See also constructive loss actual total loss … Black's law dictionary
constructive total loss — A loss of such a character as to authorize the insured to abandon the property and recover as for a total loss, although there is not an absolute extinction of the subject of the insurance. 29A Am J Rev ed Ins § 1571 … Ballentine's law dictionary
constructive total loss — noun : a loss to insured property that is not total but is so great that repair would cost more than the value of the property … Useful english dictionary
total loss — Fire insurance. The complete destruction of the insured property by fire, so that nothing of value remains from it; as distinguished from a partial loss, where the property is damaged, but not entirely destroyed. Test whether building burned is… … Black's law dictionary
total loss — The complete destruction of the property covered by an insurance policy. The complete destruction of a building as a building, although not necessarily the extinction of all its parts as materials or such destruction that no part is left standing … Ballentine's law dictionary
actual total loss — ➔ loss * * * actual total loss UK US noun [C or U] (ABBREVIATION ATL) INSURANCE ► a situation in which insured property is totally destroyed, lost, or made useless, and the insurance company pays the maximum amount: »They claimed that the capture … Financial and business terms
