The principle of indemnity does not apply to __________.
A. Burglary insurance
B. Fire Insurance
C. Marine Insurance
D. Life and Personal Accident insurance
Answer: Option D
Solution(By Examveda Team)
The principle of indemnity does not apply to Life and Personal Accident insurance. According to the principle of indemnity, the purpose of an insurance contract is to bring back the insured to the same financial position as he or she was before the loss occurred to him or her (because of a mishap). But in case of life insurance, life of a person can not be brought back.This Question Belongs to Commerce >> Business And Commerce
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