Question

What is the principle of indemnity? Why is this principle important?

Answer 1

well according to google its saids ''The principle of indemnity ensures that an insurance contract protects you from and compensates you for any damage, loss, or injury. The purpose of an insurance contract is to make you "whole" in the event of a loss, not to allow you to make a profit.'' i hope this helps!!!!!!

Answer 2

\(\color{#0cbb34}{\text{Originally Posted by}}\) @lizzie777
well according to google its saids ''The principle of indemnity ensures that an insurance contract protects you from and compensates you for any damage, loss, or injury. The purpose of an insurance contract is to make you "whole" in the event of a loss, not to allow you to make a profit.'' i hope this helps!!!!!!
\(\color{#0cbb34}{\text{End of Quote}}\)
Thnx

Answer 3

\(\color{#0cbb34}{\text{Originally Posted by}}\) @Dileiny
\(\color{#0cbb34}{\text{Originally Posted by}}\) @lizzie777
well according to google its saids ''The principle of indemnity ensures that an insurance contract protects you from and compensates you for any damage, loss, or injury. The purpose of an insurance contract is to make you "whole" in the event of a loss, not to allow you to make a profit.'' i hope this helps!!!!!!
\(\color{#0cbb34}{\text{End of Quote}}\)
Thnx
\(\color{#0cbb34}{\text{End of Quote}}\)
yww!!!