Glossary
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Indemnity - The insurance principle by which policyholders are put into an equal financial position after a loss.
Insurance Premium Tax (IPT) - This is a Government tax which is charged as a percentage of insurance premiums.
Insured Value - The level of money that a client insures their vehicle at.
Insurer - The party to the insurance contract who promises to pay losses or benefits, usually an insurance company.
Introducer - These can be Individuals, companies or even websites that introduce clients to the insurer, who receive commissions for passing business.
