|
|
Term |
Definition |
Indemnify |
To restore the victim of a loss, in whole or in part, by payment, repair or replacement. |
Insurable Interest |
A legal interest in another person's life or health or in the protection of property from injury, loss, destruction or pecuniary damage. |
Insured |
The party to an insurance agreement to whom, or on behalf of whom, the insurance company agrees to indemnify for losses, provide benefits or render service. |
