What is a salvage and recovery clause mean with language such as “All salvages, recoveries and payments recovered or received either prior or subsequent to a loss settlement under this policy shall be applied as if recovered or received prior to the said settlement and all necessary adjustments shall be made by the parties hereto, including deduction of the Company’s cost of recovery or salvage.”?
This has to do with car insurance policy for a motor cargo truck found in a Lexington policy.