Indemnity contract

Corporate & Other Laws

Why indemnity contract covered only General Insurance neither Life insurance? Please explain?

Mahantesh Biradar

CMA Final

★ 15K+

18-Sep-21 20:28

589

Answers (1)

Indemnity contract compensates for the loss. Loss of life can't be compensated. It's just that a certain amount or services can help mitigate financial loss that happens because of death. But, it in no way makes good the loss which occurs because of death

Sahibdeep Singh

CA Inter

★ 14K+

18-Sep-21 22:05