The Principle of Indemnity States That the Insured Cannot Be

question 4

True/False

The principle of indemnity states that the insured cannot be compensated for an amount exceeding the insured's economic loss.

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Definitions:

Thoughts

Mental cognitions or processes that involve reasoning, remembering, imagining, or planning.

Self-determination Theory

A theory of motivation that emphasizes the role of intrinsic motivations and the need for autonomy, competence, and relatedness in human psychological growth.

Intrinsic Factors

Elements originating from within a person or object that motivate behavior, such as personal satisfaction or enjoyment.

Extrinsic Factors

External influences on behavior, performance, or outcomes in various contexts, including environmental, social, and economic factors.