Where two or more insurers properly pay out funds against a loss to an insured,it is as result of

Question

Quizplus · Accepted Answer

When two or more insurers properly pay out funds against a loss to an insured, it is called contribution. This means that each insurer will share in the payment of the loss in proportion to the amount of insurance they provided. This is different from co-insurance, which refers to a situation where the insured and insurer share in the risk of loss. Subrogation and endorsements are also related to insurance, but not to the specific scenario described in the question.

Where Two or More Insurers Properly Pay Out Funds Against