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प्रश्न
Distinguish between re-insurance and double insurance.
फरक स्पष्ट करा
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उत्तर
| Basis of Distinction | Re-insurance | Double insurance |
| Purpose | To determine liability for loss. | Obtain protection in the case of an insurer's insolvency. |
| Parties | Insurer and re-insurer. | Insurers and the insured. |
| Claim | Only the original insured can claim reimbursement. | The insured can seek compensation from all insurers proportionally. |
| Legal Nature | The insured can seek compensation from all insurers proportionally. | Any law does not require double insurance. |
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