Which of the following means restoring the issue to position he was just before the loss occurred

Answer Details

The term that means restoring the issue to the position he was just before the loss occurred is called "Indemnity." Indemnity means compensation for any loss or damage sustained by a person. When a person suffers a loss or damage due to an insured risk, the insurer compensates him for the actual loss suffered, not exceeding the amount insured, and thus restores him to his original position before the loss. It is an essential feature of insurance contracts that the insured should be indemnified to the extent of his actual loss, and not more than that.