Question 11 Which of the following statements concerning the insurance term,"indemnity," and "subrogationis are correct? 1. Subrogation is the right of the insurer, upon paying the insured for a loss, to have the right to collect what was paid from a responsible third party 2. Indemnity is a concept whereby an inmured is entitled to payment caly to the extent of an actual financial loss I only Botha Nesternor