Insurance 101 – Chapter 10 – Volume 18 – Priority of Rights to Salvage

Priority of Rights to Salvage

One case involved a dispute among three groups of divers for the right to salvage silver from the cargo of a ship sunk and for the title to whatever silver is recovered. In resolving the problem, the court considered the common law of finds that treats property that is abandoned as returned to the state of nature and thus equivalent to property, such as fish or ocean plants, with no prior owner.

The following video was adapted from my book, “Insurance Claims A Comprehensive Guide” Published by the National Underwriter Company and is available at the Zalma Insurance Claims Library

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