Definition of ‘Indemnity’
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Mayank Goyal
Definition:Indemnity means making compensation payments to one party by the other for the loss occurred. Description:Indemnity is based on a mutual contract between two parties (one insured and the other insurer) where one promises the other to compensate for the loss against payment of premiums. Today’s Read: CM2 Excel Practice Workbooks with Solutions (CM2B)
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