Question

The principle of ____ states that an insured should not be compensated by an insurance company in an amount exceeding the economic loss.

Answer 1

Answer:

indemnity

Explanation:

The principle of indemnity asserts that on the happening of a loss the insured shall be put back into the same financial position as he used to occupy immediately before the loss. In other words, the insured shall get neither more nor less than the actual amount of loss sustained.

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