Question

1 point 8. When stock is destroyed by fire the claim is calculated under O a) Loss of Profit policy O b) Loss of Stock policy O c) Life Insurance policy O d) None of the above​

Answer 1

Answer:

The correct answer is b) Loss of stock policy

Answer 2

Answer:

The correct option is b) Loss of stock policy.

Explanation:

If the goods are totally destroyed, the amount of claim is equal to the actual loss, provided the goods are fully insured. However, in case of under insurance(i.e. insurable value of stock insured is more than the sum insured),the amount of claim is restricted to the policy amount.

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