[amp_mcq option1=”Insured” option2=”Assured” option3=”Indemnity” option4=”both (a) & (b)” correct=”option1″]<\/p>\n
The correct answer is: A. Insured.<\/p>\n
The insured is the person whose risk is insured. The insured is the person who pays the premiums to the insurance company and who is entitled to the benefits of the insurance policy if a covered event occurs.<\/p>\n
The assured is the person who is promised the benefits of the insurance policy. The assured is the person who is named in the insurance policy as the beneficiary of the policy.<\/p>\n
Indemnity is the act of restoring someone to their original position after they have suffered a loss. In the context of insurance, indemnity is the act of restoring the insured to their financial position before the loss occurred.<\/p>\n
Therefore, the correct answer is: A. Insured.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”Insured” option2=”Assured” option3=”Indemnity” option4=”both (a) & (b)” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[695],"tags":[],"class_list":["post-47002","post","type-post","status-publish","format-standard","hentry","category-business-and-commerce","no-featured-image-padding"],"yoast_head":"\n