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May 6, 2014

What is the meaning of "Indemnification" in terms of Insurance?

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    May 6, 2014

    In terms of insurance "Indemnification" can be defined as to make whole again the same thing, or it can also be defined as to restore to the position that one was in. There can be three different situations for Indemnification to occur and they are:
    >>In a reimbursement policy.
    >>In a "pay on behalf" or "on behalf of" policy.
    >>And in an "indemnification" policy.

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