The Significance of Indemnity in Insurance Contracts
Introduction: Insurance is a risk management tool that provides financial protection against unforeseen events or losses. One of the key
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InsuranceInsightful
Simplifying Insurance, Empowering You.
InsuranceInsightful
Simplifying Insurance, Empowering You.
actual loss
Principle of Indemnity in Insurance
The principle of reprisal asserts that on the passing of a loss the insured shall be put back into the same fiscal position as he used to enthrall incontinently before the loss. In other words, the ensured shall get neither further nor lower than the factual quantum of loss sustained. This, of course, is always subject to
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