Business Studies, asked by sr8106949, 8 months ago

Explain briefly the principles of insurance with suitable examples.

Answers

Answered by chavijaiswal9

Answer:

mark me as brainlist

follow me

Explanation:

For example, a person insured a car for 2.5 lakh against damage on an accident case. Due to accident he suffered a loss of 1.5 lakh, then the insurance company will compensate him 1.5 lakh only not the policy amount i.e., 2.5 lakh as the purpose behind it is to compensate not to make profit

Previous Question

Next Question

Similar questions

Social Sciences, 3 months ago

What are the important minerals available in Karnataka ?

Math, 3 months ago

Solve 3x+4y=10 2x-2y=2 cossmultip- plication method.

English, 3 months ago

What is the adverb in this sentence:- Last month , he decided to participate in the science fair.

Science, 8 months ago

Dalton’s atomic theory successfully explained (i) Law of conservation of mass (ii) Law of constant composition (iii) Law of radioactivity (iv) Law of multiple proportion (a) (i), (ii) and (iii) (b) (i), (iii) and (iv) (c) (ii), (iii) and (iv) (d) (i), (ii) and (iv)...

Math, 8 months ago