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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
What does LOI stands for In import and export trade?
It can stand for either Letter Of Intent or Letter Of Indemnity.
What does indemnity insurance cover on a property for sale that hasn't got planning permission?
You will have to look at your policy. It will detail all the coverage you purchased.
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).
What is contractor's general liability insurance?
Contractor's general liability insurance is, essentially, "malpractice" insurance for general contractors. That is, it provides indemnity for a party who has sustained compensable injuries for the negligent act or omission of a general contractor. Like other liability insurance, this type provides a defense to the insured when liability (fault) is contested. That is, part of the insuring agreement provides that the insurer will hire and pay an attorney to defend the insured, investigate the claim, and pay related costs. Generally, these attorney fees and costs are paid in addition to the indemnity benefit. However, some policies provide that they reduce available indemnity benefits,
What is indemnity in principle?
The principle of indemnity is the principle of restoration after a loss. It restores the injured party to the original position he was before the loss occured.
Subrogation and contribution as a corollaries of the principles of indemnity?
The principle of indemnity is one of the most important rules in insurance. The principle of subrogation and indemnity protects someone from multiple claims.
What are the exceptions to the density rule?
Water and mercury are the only currently known exceptions to the density rule.
Does the principle of indemnity state that the insured can be compensated for an amount equal to his economic loss?
The principle Êof indemnity state that the insured Êcan be compensated for an amount equal to his economic loss Êbut not more. This means an insured cannot be compensated an amount exceedingÊeconomic loss.Ê
Insurance works on the principle?
insurance works on the principle of indemnity, law of large numbers, principles of utmost faith etc.
What can you do if you are written out of a will?
As a rule, nothing. There are exceptions to the rule if you are a blood descendant or surviving spouse and were not named in the will, among a few other exceptions.
What is auto insurance based on?
All insurance is based on the principle of "Indemnity". Regulatory wise often refers to "Financial Responsibility".
Rule or principle frequency expressed in statistical symbols?
Rule or principle frequency expressed in statistical symbols?
What are principle?
A principle is a rule of action or conduct.
What are some exceptions to the octet rule?
No but apples do!
How does liability policy follow the principle of indemnity?
The liability coverage on your insurance policy provides compensation for a another party to whom you may be liable for loss or damages. The intent under the principle of indemnity is to make whole, or to restore the claimant / injured party through compensation as realistically as possible to the previous condition before the loss occurred.
What are 3 atoms are exceptions to the octet rule?
Boron is one. It exceeds the octet rule.
