The principle of indemnity is intended to:
A. Compensate the insured for the full value of their loss.
B. Provide financial benefits to the insured regardless of the loss amount.
C. Prevent the insured from profiting from an insurance claim.
D. Transfer the risk of loss to a third party.
Answer:C
The principle of indemnity is intended to:
A. Compensate the insured for the full value of their loss. B. Provide financial benefits to the insured regardless of the loss amount. C. Prevent the insured from profiting from an insurance claim. D. Transfer the risk of loss to a third party.