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Discuss the factors limiting the payment of indemnity in Kenya?
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What is the journal entry for indemnity payment received?
debit cash / bankcredit indemnity income etc
Insurance reimbursement or payment ia also called?
Indemnity
What are the methods of providing indemnity?
Indemnity in insurance means the exact financial compensation. This can be provided by: 1. Cash payment 2. Repair 3. Replacement 4. Reinstatement For more information email to: KAEY.VEE@GMAIL.COM
What are the different methods of providing indemnity?
Indemnity in insurance means the exact financial compensation. This can be provided by: 1. Cash payment 2. Repair 3. Replacement 4. Reinstatement For more information email to: KAEY.VEE@GMAIL.COM
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What is the difference between Indemnity and Pay on Behalf of in an insurance policy?
Indemnity, indemnify (as I understand it) is protection from loss, and to make whole, after a loss has been sustained. On Behalf of would be the person the sum is being paid for/in your stead/representing you/in stead of you. Your insurance company made payment to the injured/damaged property that you were responsible for, thus indemnifying them, on your behalf, (rather than you paying it yourself).
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