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प्रश्न
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.
पर्याय
Indemnity
Insurable interest
Utmost good faith
Mitigation of loss
उत्तर
Insurable interest
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संबंधित प्रश्न
Choose the Correct Answer.
The basic principle of insurance is ________
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.
"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?
"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.
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.
