Mr Lou who assured his life with XYZ Assurance Company, was involved in an accident and had a broken leg; the sum of #80,000 was paid to Mr Lou for his broken leg. The money received is known as
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Correct Answer: Option D
Explanation:
Indemnity insurance is a contractual agreement in which one party guarantees compensation for actual or potential losses or damages sustained by another party. Mr Lou was indemnify at the tone of N80,000
Indemnity insurance is a contractual agreement in which one party guarantees compensation for actual or potential losses or damages sustained by another party. Mr Lou was indemnify at the tone of N80,000