Question

A person gets his house ( worth 14,00,000 ) insured from 3 insurance companies i.e A: 300,000 B: 500,000 C: 600,000. At the time of incurrence of loss, the compensation will be paid by insurance companies in the ratio of 4:5:1 this is the cause of ______ insurance.

(1 Point)

Principle of proximate cause

Principle of contribution

Principle of matigation of loss

Principle of indemnity

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Answer 1

Answer:

principle of mitigation of loss which says that compensation will be jointly given