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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. |
