Which of the following is a non-indemnity insurance?
Answer Details
A non-indemnity insurance is a type of insurance where the insurer pays a fixed amount regardless of the actual loss suffered by the insured. Of the options given, Personal Accident Insurance is a non-indemnity insurance because it pays a fixed sum of money in the event of an accident or injury, regardless of the actual expenses incurred by the insured. The other options, such as Burglary Insurance, Fire Insurance, Consequential loss Insurance, and Third Party Insurance, are all indemnity insurances, where the amount paid by the insurer is based on the actual loss or damage suffered by the insured.