The aim of a contract of indemnity insurance is:
A) to assist the insured to rebuild his business or home.
B) to put the insured back to the position they occupied before the occurrence of the loss.
C) to assist the insured to make a profit out of their loss.
D) to assist the insured against unforseen business or economic losses.
Correct Answer:
Verified
Q6: At common law,the insured in every contract
Q7: Insurance contracts by their very nature are
Q8: Which of the following statements about subrogation
Q9: Does an innocent misrepresentation in an application
Q10: Sophie over-insures her car,worth $10,000,for $12,000.If the
Q12: Before an insured party can place a
Q13: Where an insured party intentionally understates their
Q14: Explain the dynamics that exist between insurance
Q15: How does an insurance contract differ from
Q16: Which of the following statements about insurance
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents