Question

21)Which of the following statements is incorrect with respect to fire insurance
O
Principle of indemnity is applied
O
It has element of protection only
O
It is not the actual loss but the insured value is payable by insurance company
O
Insured must have insurable interest in the subject matter of insurance​

Answer 1

○☆▪︎ANSWER ▪︎☆○

OPTION =▪︎ "A" IS CORRECT!!!...