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词汇 constructive-total-loss
释义 constructive total loss
noun[ C or U ]
ukus(abbreviationCTL)
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 value for which it is insured. It then becomes the property of the insurance company:
It must be considered whether repairs are financially feasible or whether the vessel should be considered a constructive total loss.

Compare


actual total loss

Examples of constructive total loss


constructive total loss
The ship was declared a constructivetotalloss.
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She broke her back and was declared a constructivetotalloss.
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She survived the attack, was towed to port and declared a constructivetotalloss.
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She was judged to be a constructivetotalloss and any usable equipment was stripped from her hulk.
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Wikipedia

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A constructivetotalloss is a situation where the cost of repairs plus the cost of salvage equal or exceed the value.
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Wikipedia

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She was beached but was declared a constructivetotalloss.
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Later refloated and eventuially was declared a constructivetotalloss.
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She was beached but declared a constructivetotalloss.
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All 204 passengers and 32 crewmembers were rescued, but the ship was deemed a constructivetotalloss.
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Typically, a shipowner might assign the benefit of a policy to the ship-mortgagor.: 60-63: deals with the issues of a constructivetotalloss.
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Wikipedia

This example is from Wikipedia and may be reused under a CC BY-SA license.
These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors.
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