Insurance

Principle of indemnity

In the realm of insurance, there exists a doctrine that sets a cap on the amount an insured individual can receive - the actual cash value of their insured property. This principle aims to provide fair compensation, taking into account the depreciation and wear and tear of the property. This limitation is a crucial aspect to consider in the world of finance, as it can greatly impact an individual's financial recovery after a loss.

Related terms

Case management

Understand the meaning and definition of Case management in the context of stock market, trading, and investments.

MORE
Noncancellable

Understand the meaning and definition of Noncancellable in the context of stock market, trading, and investments.

MORE
Friendly fire

Understand the meaning and definition of Friendly fire in the context of stock market, trading, and investments.

MORE
Human life value

Understand the meaning and definition of Human life value in the context of stock market, trading, and investments.

MORE
Replacement

Understand the meaning and definition of Replacement in the context of stock market, trading, and investments.

MORE
Incontestability clause

Understand the meaning and definition of Incontestability clause in the context of stock market, trading, and investments.

MORE
Open Free Demat Account!

Join our 3.5 Cr+ happy customers

+91
Explore other categories
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy Zero Brokerage On Stock Investments

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 3.5 Cr+ happy customers