Question

Explain the principles of Insurance.​

Answer 1

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In the insurance world there are six basic principles that must be met, ie insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution. Insurable Interest. The right to insure arising out of a financial relationship, between the insured to the insured and legally recognized.

Answer 2

Answer:

In the insurance world there are six basic principles that must be met, ie insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution.

Insurable Interest

The right to insure arising out of a financial relationship, between the insured to the insured and legally recognized.