Advertisements
Advertisements
प्रश्न
Identify the principle of insurance based on the given information:
- It governs that an insurance contract compensates you for any damage, loss or injury caused only to the extent of the loss incurred.
- Insurance contract ensures that the insurer does not make a profit in the event of an incurred loss.
पर्याय
Utmost good faith
Insurable interest
Indemnity
Mitigation of loss
MCQ
Advertisements
उत्तर
Indemnity
Explanation:
Indemnity means the insurer pays only the actual financial loss, restoring the insured to the pre‑loss position and preventing any gain from a claim, and compensation equals the extent of loss, not profit.
shaalaa.com
या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
