The Aim of a Contract of Indemnity Insurance Is

question 29

Multiple Choice

The aim of a contract of indemnity insurance is:

• A)to assist the insured to rebuild his business or home.
• B)to put the insured back to the position they occupied before the occurrence of the loss.
• C)to assist the insured to make a profit out of their loss.
• D)to assist the insured against unforseen business or economic losses.

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Definitions:

Affirmative Duty

A legal obligation to act proactively in certain situations to prevent harm.

Medical Standards

Established benchmarks of quality and safety for healthcare practices and procedures to ensure consistent and effective patient care.

Reasonable Care

The legally required level of care that an individual or organization must undertake to avoid negligence.

Medication

Any substance used to diagnose, cure, treat, or prevent disease or improve a condition or symptom.