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प्रश्न
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.
पर्याय
A is true and R is the correct explanation of A.
A is true, but R is not the correct explanation of A.
A is true, but R is false.
A is false, but R is true.
उत्तर
A is true and R is the correct explanation of A.
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संबंधित प्रश्न
Choose the Correct Answer.
The basic principle of insurance is ________
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.
Explain in brief the Principle of Subrogation.
"The insurer undertakes to put the insured, in the event of loss, in the same position that he occupied before the event." Which principle of insurance is referred to in this statement?
What is insurable interest?
Explain 'contribution' as a principle of insurance.
Briefly explain the principle of Utmost good faith of insurance?
Distinguish between Principle of Indemnity and the Principle of Insurable Interest.
"Insurance is a contract of indemnity." Explain.
"Principle of contribution is a corollary to the principle of indemnity." Comment.
