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coldgirl [10]
1 year ago
10

Restoring an insured to the same condition as before a loss is an example of the principle of?

Social Studies
1 answer:
dybincka [34]1 year ago
8 0

Restoring an insured to the same condition as before a loss is an example of the principle of Indemnity. The principle of indemnity makes sure that the insurance contract protects and compensates you for any loss, damage or injury. The objective of an insurance contract is to make you "whole" in case of a loss, not to allow you to make a profit. Thus, the amount of your compensation for damages is directly related to the amount of damages you actually suffered.

The principle of indemnity states that an insurance policy will not provide compensation to the policyholder in excess of their financial loss. This limits the benefit to an amount that is sufficient to recover the policyholder to the same financial position they were in before the loss.

Learn more about the Principle of Indemnity:

brainly.com/question/11431424

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Christopher Columbus was born in Genoa (now Italy) in 1451 to Domenico Colombo, a middle-class wool weaver, and Susanna Fontanarossa. Though little is known about his childhood, it is assumed that he was well-educated because he was able to speak several languages as an adult and had considerable knowledge of classic literature.

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Columbus made a fourth voyage nominally in search of the Strait of Malacca to the Indian Ocean. America.

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