Glossary

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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.
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