Concepts of Pooling and Indemnity in Insurance
Pooling helps create a fund to pay for claims, and indemnity ensures that the payment is fair and only covers the actual loss.
Pooling helps create a fund to pay for claims, and indemnity ensures that the payment is fair and only covers the actual loss.
The principles of insurance explained — utmost good faith, insurable interest, indemnity, contribution, subrogation, loss minimization, and proximate cause.