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what is indemnity

Asked by Raju 9th February 2018, 10:34 PM
Answer Verified by Expert

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. 

Verified by Expert 10th February 2018, 6:12 AM
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