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Indemnity
The principle whereby a person who has suffered a loss is restored, as far as possible, to the same financial position that he/she was in immediately prior to the loss, subject to any contractual limitation as to the amount payable (the loss may be greater than the policy limit). The application of this principle is called indemnification.
Intermediary
An intermediary is a broker or agent who advises clients about their insurance needs, helps them to select the most appropriate policy and provides an ongoing service in all subsequent matters relating to the policy.