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CBSE Class 11-commerce Answered

what is indemnity
Asked by Raju | 09 Feb, 2018, 10:34: PM
answered-by-expert 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 | 10 Feb, 2018, 06:12: AM
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