Advertisements
Advertisements
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.
APPEARS IN
संबंधित प्रश्न
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 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?
Uberimmae fidae, the principle of insurance means ______.
Explain 'contribution' as a principle 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.