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प्रश्न
Explain in brief the Principle of Subrogation.
उत्तर
The Principle of subrogation implies that after indemnifying the insured for his loss the insurer becomes entitled to all the rights and remedies relating to the insured property. The insurer shall step into the shoes of the insured. The right of subrogation extends only to the extent of the sum insured.
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संबंधित प्रश्न
Choose the Correct Answer.
The basic principle of insurance is ________
______ means a promise to compensate in case of loss.
The insurer is liable for insured perils only and not for unexpected uninsured ones. This is the principle of ______.
Assertion: The concept of insurable interest is fundamental to all insurance contracts.
Reasoning: It ensures that the insured has a legitimate financial interest in the subject matter insured.
Identify the principle of insurance based on the given information.
- The insured must be benefitted by the existence of the insured object and must suffer a loss by its destruction.
- It is the financial interest of the insured in the subject matter of insurance.
Name the principle of insurance under which the insurer stands in place of the insured after settlement of claim in relation to the insured property.
"The insured must disclose all material facts and the insurer must make clear all the terms and condition in the insurance contract." Which principle of insurance is referred to in this statement?
Explain 'contribution' as a principle of insurance.
Briefly explain the principle of Utmost good faith of insurance?
"Principle of contribution is a corollary to the principle of indemnity." Comment.
