select the correct answer. which term describes the restoration of the insured person to the financial…

select the correct answer. which term describes the restoration of the insured person to the financial position he or she was in before the loss occurred? a. insurance b. indemnity c. face value

select the correct answer. which term describes the restoration of the insured person to the financial position he or she was in before the loss occurred? a. insurance b. indemnity c. face value

Answer

Brief Explanations:

Indemnity is the principle in insurance that aims to restore the insured to the financial position they were in before the loss. Insurance is a broader concept. Face - value refers to the nominal value of a policy or security, not the restoration of financial position.

Answer:

B. indemnity