The principle of insurance which ensures that an individual is restored to his former position after suffering a loss is
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Correct Answer: Option C
Explanation:
The principle of indemnity aims to restore an insured person financially to approximately the position he or she occupied before the insured loss occurred. It prevents the insured from making a profit from an insurance claim.
The principle of indemnity aims to restore an insured person financially to approximately the position he or she occupied before the insured loss occurred. It prevents the insured from making a profit from an insurance claim.