Question

explain the principal which is used to decide the money to be paid to insure​

Answer 1

There are seven basic principles that create an insurance contract between the insured and the insurer:

1.Utmost Good Faith

2.Insurable Interest

3.Proximate Cause

4.Indemnity

5.Subrogation

6.Contribution

7.Loss Minimization

These 7 principles combine to form an insurance contract. In this blog we are going to briefly explain each item and try to show you how understanding each item can shed light into your personal injury case and insurance questions. These are principles open to interpretation. So if you think your case has breached one of these principles or your insurance claim has wrongfully been denied. Jason McMinn and Justin McMinn for help understanding your rights.

Hope it helps you ✨

BE BRAINLY ✌️