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TYPES OF LOSSES: Let us now discuss the extent of loss coverage provided in the insurance policy. For this purpose, you should first understand the mean of the term of "Loss". Look at Fig. carefully which depicts various types of losses. Let us now discuss them in detail.
Various Types of Losses
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Indemnity and Insurable Value : The insurance contract is in the nature of indemnity. The literal meaning of indemnity is protection against loss or making good the loss. The obje
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OBJECTIVES After studying this unit, you should be able to : 1. Explain the need for procedural formalities of export incentives 2. Describe the process of claiming dut
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