Indemnity

Understanding the Concept of Indemnity in Insurance
Insurance Education

Understanding the Concept of Indemnity in Insurance

The article explains the principle of indemnity in insurance, which ensures that policyholders are compensated for their losses without financial gain. It details how indemnity works, its purpose, types, examples, and limitations. The principle aims to restore the insured to their pre-loss state, maintaining fairness in insurance practices.

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