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.

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.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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