aliensbrain
  • Home
  • Study
  • Quizzes
  • 🎤AI Practicefree
  • Notebooks
  • Community
  • Sign in
  • General Knowledge (Insurance)
  • What is the term used for a compensation paid by the insu...
Multiple choice

What is the term used for a compensation paid by the insurer to the insured for a particular loss suffered by the latter?

  1. Loss minimisation

  2. Claim

  3. Indemnity

  4. Subrogation

  5. Dividend

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A compensation paid by the insurer to the insured for a particular loss suffered by the latter is called indemnity.

Keep practicing — related questions

  • Sharing of claim between two insurers is known as
  • The ratio of losses suffered to the amount of insurance in effect is known as
  • Pesticides are used for controlling & destroying a particular target pest. Among the following sodium salts...
  • If a segment of a chromosome is broken and attached to the same chromosome upside down with no loss or gain...
  • Which term is commonly used collectively to refer to apes, monkeys and man?
  • Which of the following terms is used for atoms having different atomic number but same mass number?
  • Which of the following statements is/are correct? A. The insured must have insurable interest in the subjec...
  • Directions: In the following question, there is a certain relationship between two terms on each side of : ...
Play the full quiz 🎤 Practise this topic out loud

Practice this topic

  • Insurance Policies and Claims (1580 questions)
Advertisement
© Aliensbrain | all rights reserved
  • About
  • Contact
  • Terms and Condition
  • Privacy Policy