Russell Hutchinson Opinion

Three ways to look at the latest trauma products

Monday 30th of June 2014

The idea of making a payment proportionate to the impact of a condition or disease is not new. In fact, ‘severity-based’ is really another term for ‘principle of indemnity.’

Indemnity means we should put the client back in the situation – financially – that they were in before the loss. When insuring cars, houses, and boats that’s always been easy to do. When insuring lives and people it...

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