Unit 5 - Indemnity, Contribution and Subrogation
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Indemnity 3.13 The definition of Indemnity and which types of policy are policies of indemnity; 3.14 How the indemnity principle is applied to contract of insurance 3.15 What is meant by agreed value , new for old , reinstatement and first loss policies 3.16 How average is applied to non-complex cases of underinsurance. Contribution 3.17 the principle of contribution and when and how it applies to the sharing of claim payments between insurers in straightforward property cases. Subrogation 3.18 The principle of subrogation and why it may or may not be pursued in simple circumstance.
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