The Principle of Indemnity Will Prevent

question 5

Multiple Choice

The principle of indemnity will prevent:

• A)the act of one person from being assigned to another.
• B)an insured from collecting more than what he or she has lost.
• C)a negligent third party from being held liable for damages if the injured party is insured.
• D)a significant amount of loss control activity.
• E)an insurer from ever waiving its right to subrogation.

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Definitions:

Marginal Costs

The additional cost incurred by producing one more unit of a product or service.

Interdependent

The mutual reliance between two or more groups, individuals, industries, or economies.

Cruciform Halo

A specific type of halo in Christian art that is shaped like a cross, signifying the crucifixion of Jesus Christ, often used to denote holy or sacred figures.

Christian Saint

A person recognized by the Christian Church for their exceptional piety, virtue, or martyrdom, often venerated and invoked in religious practices.