insurance 8

3. A higher degree of honesty is imposed on both parties to an insurance contract than is imposed on parties to other contracts is related to the principle of
5. Principle of ?? States that the insured must be in a position to lose financially if a covered loss occurs.
7. _ _ _ _ _ _ cash value is the Basic method for indemnifying the insured is based on the actual cash value of the damaged property.
10. In _ _ _ _ _ _ _ _ _ _ _ cost insurance there is no deduction for physical depreciation in determining the amount paid for a loss.
11. Fundamental truth or proposition that serves as the foundation for a system of belief

1. means substitution of the insurer in place of the insured for the purpose of claiming indemnity from a third party for a loss covered by insurance is related to the principle of
2. _ _ _ _ insurance contract is not a contract of indemnity
4. _ _ _ _ _ _ policy laws A law that exists in some states that requires payment of the face amount of insurance to the insured if a total loss to real property occurs from a peril specified in the law
6. Insurer agreeing to pay no more than the actual amount of the loss is related to principle of
8. Policy that pays the face amount of insurance if a total loss occurs.
9. are there exception to principle of indemnity.