Which one (1) of the following describes when "indemnity" has occurred?

icon
Related questions
Question

PLS HELP ASAP

Which one (1) of the following describes when "indemnity" has
occurred?
The insurer returns the unearned portion of the premium when the policy is
cancelled.
The insured is reimbursed for a loss or losses actually sustained.
The insurer attempts to collect its loss from the person or persons who caused the
damage.
The amount of insurance is sufficient to meet the co-insurance requirement.
Transcribed Image Text:Which one (1) of the following describes when "indemnity" has occurred? The insurer returns the unearned portion of the premium when the policy is cancelled. The insured is reimbursed for a loss or losses actually sustained. The insurer attempts to collect its loss from the person or persons who caused the damage. The amount of insurance is sufficient to meet the co-insurance requirement.
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer