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

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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.
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