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:
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Yes , <span>ranchers adopt rotational grazing practices</span>
Answer:
Week
Explanation:
Because people work and get paid every week sorry if I'm wrong but it's my guess
<span>The Mandate of Heaven was the belief that when Chinese rulers died, they became gods.
True</span>
Andrew Jackson was the one who pushed for the Indian Removal Act.