Vidyalelo
Commerce · Q713

Insurance

Graduate and Post Graduate · Commerce · question 713

Q713

Which is not a contract of indemnity?

A.
Personal Accident
Answer
B.
Fire
C.
Marine
D.
Motor

Answer: Option A

Solution

Answer: Option A
Solution:
Personal Accident is not a contract of indemnity. Type of insurance cover (such as property insurance, but not personal accident insurance) that only restores the insured to his or her original financial position. The insured cannot gain from a contract of indemnity.