X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Indemnity–that is, placing the claimant into the same financial position held prior to a loss–is the best that the insurance business can offer. Theoretically, claimants should not be allowed to profit from a loss. But some jurisdictions actively encourage profiting from insurance by legislating Valued Policy Laws, or court decisions allowing duplicate payments for losses. Ethically, should insurers offer insurance in jurisdictions where the concept of indemnity is ignored? Should insurance professionals seek legislation that returns insurance to providing only indemnity? Post your responses here, and please note what role you play in the industry.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.