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.