CII M93 Practice Questions - CII M93 Commercial Property And Business Interruption Insurances Exam

Reinstatement basis deducts wear, tear, and depreciation; Indemnity basis pays new-for-old Reinstatement basis pays the cost of replacing damaged property as new without deduction for depreciation, whereas Indemnity basis deducts wear and tear Reinstatement basis applies only to stock; Indemnity basis applies only to buildings Reinstatement basis is mandatory for theft claims; Indemnity basis is mandatory for fire claims