Question

Identify the principle of insurance based on the given information.

1. The insured must be benefitted by the existence of the insured object and must suffer a loss by its destruction.
2. It is the financial interest of the insured in the subject matter of insurance.

पर्याय

• Indemnity

• Insurable interest

• Utmost good faith

• Mitigation of loss

Answer 1

Insurable interest