A guide to Indemnity and Reinstatement Value Conditions

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Facilitator :
Daniel Breier, Peter Rogers and Keaoleboga Molefe
Description :
At claims stage disputes frequently arise between insurers and insured regarding the measure of the indemnity to be paid. The calculation of the indemnity payment is often a difficult one. In property insurance, reinstatement value conditions encourage the insured to reinstate the property and provide the insured with the benefit of receiving the value of new property in place of old property.