Abandonment in Marine insurance is when constructive total loss happens, the assured transfer rights of the insurer to the subject matter insured and demands indemnification from the insurer.

Where notice of abandonment is properly given, the rights of the assured are not prejudiced by the fact that the insurer refuses to accept the abandonment.

Article 250 Where the insurer has accepted the abandonment, all rights and obligations relating to the property abandoned are transferred to the insurer.