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Today General Knowledge(GK)
Which principle specifies an insured should not collect more than the actual cash value of a loss?
A)
Liquidity
B)
Indemnity
C)
Premium
D)
Annuity

Correct Answer : Option (B) - Indemnity



The principle of indemnity is such principle of insurance stating that an insured may not be compensated by the insurance company in an amount exceeding the insured’s economic loss.

Published On : June 2, 2021
Category : Insurance and Finance
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