I've always been able to loot the dead character, just like any dead NPC.
That being said, I dislike that resurrection scrolls are the only way to rez a dead party member. I think it'd be nice if there was something more convenient. As-is a survivor may have to go all the way across the map, search around, hopefully your party has enough money, etc. It's a real pain if you're unprepared. You can't even take the corpse with you, so when you finally procure a scroll, you have to trek all the way back.