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Indemnification is generally intended to make a party "financially whole" True or false?

Indemnification is generally intended to make a party "financially whole"

True or false?

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Answer #1

Solutuion: The above statement is true  

Indemnification is a term generally used in Insurance Companies to compensate the loss incurred to the party to make "financially whole" in the event of unexpected loss only when you purchase an indemnity plan.

Indemnity plan ensures that you are in contract with an insurance company to protect and indemnify you for the unexpected loss that has occured.

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