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2. Insurance policies are generally standardized contracts as they are unilateral in nature. Discuss the advantages and disadvantages of using standardized contracts. Also, comment on

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2. Insurance policies are generally standardized contracts as they are unilateral in nature. Discuss the advantages and disadvantages of using standardized contracts. Also, comment on how the principle of indemnity, including subrogation and insurable interest, upholds the intent of the policy contract

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