7. Mohan started textile business in Gujarat. He decided to take double insurance policy for his factory. He got
his factory insured for Rs. 80,00,000/- with company A and for Rs. 20,00,000/- with company B. Few months
later, a theft occurred in his factory. The amount of loss estimated was Rs. 10,00,000/- Mohan has decided to
file for a claim with both the insurance companies. [5]
a) Identify the related principle of insurance from the above paragraph and explain it.
b) Calculate the relative share of each of the two companies in settling the claims.
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