what is indemnity

Asked by Raju | 9th Feb, 2018, 10:34: PM

Expert Answer:

Contracts of fire or marine insurance are contracts of indemnity. If the insured for the loss caused to him because of damage of property insured then the compensation payable and the loss suffered are to be measured in terms of money. 

Answered by Tharageswari S | 10th Feb, 2018, 06:12: AM

Queries asked on Sunday & after 7pm from Monday to Saturday will be answered after 12pm the next working day.