UI Post-UTME Commerce 2025 (Model questions) Question 4

The principle of indemnity in insurance means that:
I. The insured is restored to the same financial position as before the loss
II. The insurer can recover part of the loss from other insurers
III. The insured cannot make a profit from an insurance claim
IV. All material facts must be disclosed to the insurer

1. A.I, II and III only
2. B.I and III only
3. C.II and IV only
4. D.All of the above