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Define Principle of Indemnity

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Define Principle of Indemnity

Posted by Vikram Rao 5 years, 10 months ago

CBSE > Class 11 > Business Studies

2 answers

Gursimranjeet Kaur 5 years, 9 months ago

According to this principle, insurance is not a contract of making profit . The purpose of insurance is to bring back the insired in same financial position as he was before the loss.

1Thank You

Urvashi Porwal 5 years, 10 months ago

It is the security against loss

1Thank You

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