Indemnity – part of the Principles of Insurance Series

This session takes an in-depth look at this fundamental principle of insurance and how it operates in practice, including common modifications. Particularly useful for anyone studying the IF1 or M05 subjects.

Objectives

• Understand the importance of indemnity
• Know the different ways indemnity can be granted
• Understand how indemnity is measured
• Be aware of the modifications & limitations of indemnity

Content and Learning

• Definition of indemnity and the types of policy it applies to
• The different methods of providing indemnity with a detailed look at each
• How indemnity is measured in different situations
• A detailed look at factors which modify or limit indemnity
• Interactive examples, plus Q&A