Which term describes the restoration of the insured person to the financial position he or she was in before the loss occurred?

Question

Mathematics

Amelia

15 December, 18:52

Which term describes the restoration of the insured person to the financial position he or she was in before the loss occurred?

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Answers (2)

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Sandy · Answer 1

The term that describes the restoration of the insured person to the financial position that he or she was in before the loss occurred is called indemnity. This allows protection to the insurer in case of loss and damage and will protect against any legal quandry that may occur.

King Wilkinson · Answer 2

The term that describes the restoration of the insured person to the financial position that he or she was in before the loss occurred is called indemnity. This allows protection to the insurer in case of loss and damage and will protect against any legal quandry that may occur.