Rain insurance can be written on a valued basis as well as on a contract of indemnity.

Name: Rain insurance can be written on a valued basis as well as on a contract of indemnity.
Brand: Quizplus
Rating: 4.7 (46 reviews)

Question

Quizplus · Accepted Answer

Rain insurance can indeed be written on a valued basis, where a fixed amount is paid upon the occurrence of a specified amount of rainfall, or on a contract of indemnity basis, where the insurance covers the actual loss suffered due to the specified weather event.

Rain Insurance Can Be Written on a Valued Basis as Well