The principle of _______ensures that an insured does not profit by insuring with multipleinsurers.
A) Subrogation
B) Contribution
C) Indemnity
D) All of the Above
Correct Answer:
Verified
Q4: Life insurance made its first appearance in
Q5: Risk may be:
A)objective
B)subjective
C)Both (a) and (b)
D)None of
Q6: The General Insurance Business Nationalization Act was
Q7: Life Insurance Corporation of India headquarter is
Q8: Insurance works on the principle of
A)Sharing of
Q10: Insurance is meant to
A)Prevent specified events
B)Prevent damage
Q11: Insurance compensate losses
A)By replacing the original asset
B)To
Q12: Insurance is necessary because
A)Assets depreciate over time
Q13: Insurance works on the principle of
A)Sharing
B)Probabilities
C)Large numbers
D)All
Q14: Insurance works on the principle of
A)Trust
B)Sharing
C)Randomness
D)All the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents