Anil took a fire insurance policy for his property worth Rs. 5,00,000 with two insurers: ICICI
Lombard General Insurance Co. Ltd. for Rs. 4,00,000 and Bajaj Allianz General Insurance Co.
Ltd. for Rs. 2,00,000. An electric short circuit in his property caused fire and it resulted in a
loss of Rs. 1,50,000. He filed a claim for Rs. 1,50,000 against each of the two insurance
companies.
i. Can Anil recover Rs. 1,50,000 each from the two insurers.
ii. Which principle of insurance has been highlighted in the given case?
iii. Determine the liability of each of the two insurers.
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