60. The insurance company acquired the burnt material and approved his claim. Which principle of insurance is highlighted in the given statement? (a) Mitigation (b) Indemnity (c) Proximate Cause (d) Subrogation
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Meaning and Principles of Insurance forms an important part of the general awareness section of various competitive exams.
Knowing about insurance and its principles is important especially for candidates appearing for Insurance exams such as LIC, NICL, NIACL and IRDA. The topic also holds relevance for the general awareness section of other government exams such as Bank exams, SSC exams, etc.
For further details on the general awareness section of various competitive exams, check the links provided below:
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