Political Science, asked by ahtashamraza280, 1 month ago

Explain the principles of insurance with example ?​

Answers

Answered by shayista321
1

Answer:

The main motive of insurance is cooperation. Insurance is defined as the equitable transfer of risk of loss from one entity to another, in exchange for a premium.

Answered by ChromaticSoul
62

The 7 Principles of Insurance Contracts :-

When You Need A Lawyer

  • Utmost Good Faith.
  • Insurable Interest.
  • Proximate Cause.
  • Indemnity.
  • Subrogation.
  • Contribution.
  • Loss Minimization.
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