The insurer should carefully examine the contract to understand the extent of the insurer's obligation, including the exemption and exclusion clauses, and conduct that may limit the insured's right to be indemnified.Choose matching termUnderstanding your insurance policySections of the Employment Standards CodeGeneral damages.Torts and criminal law20 of 20

Identify the reason for the importance of the policy terms and conditions in a contract of insurance. A) To ensure the insured understands the nature of the policy cover and its limitations. B) To exclude fundamental risks such as war and terrorism. C) To enable the insured to buy back excluded perils by war of endorsement. D) To ensure the parties to the contract understand their respective duties right and obligations.

What type of damages are specified in the contract?

Protects businesses from damages to othersSelect the correct termRisk assessmentPublic liability insuranceWorksafe insurancePremium

Which is the core principle that justifies the insurer's right to recover the amount paid as a claim from the negligent third party?Proximate CauseIndemnityContributionSubrogation

1. Some items an indemnification clause seeks to include are:The maximum amount of damagesRestrictions on a person's ability to file a lawsuitRestrictions on the time frame to file a lawsuitAll of the answers are correct2. An indemnification clause is:An agreement where you and the other party deny responsibility in a certain situation for any injuries or harm that may happen to either of youAn agreement where you accept responsibility in a certain situation for any injuries or harm that may happen to the party that you made the agreement withAn agreement where you accept responsibility in a certain situation for any injuries or harm that may happen to youAn agreement where you deny responsibility in a certain situation for any injuries or harm that may happen to you3. Indemnification clauses often include mediation, which is:A criminal court solution to any legal mattersA non-court solution to any legal mattersAn appellate court solution to any legal mattersA civil court solution to any legal matters4. One industry that utilizes indemnification clauses is:Grocery storesThe cruise vacation industryThe post officeNone of the answers are correct5. Another term for an indemnification clause is a:None of the answers are correctStop loss clauseWhereas clauseHold harmless clause