Business Studies, asked by akshayprachi37, 1 day ago

Hari took a fire insurance policy of Rs. 20 lakh for his factory at the annual premium of Rs. 24,000. In order to avoid premium more than this amount, he did not disclose that highly explosive chemicals are being manufactured in his factory. Due to a fire, his factory gets severly damaged. The insurance company refused to make the payment for claim as it became aware about the highly explosive chemicals. Identify the principle of insurnace violated by Hari (a) Insurable interest (b) Utmost good faith (C) Indemnity (d) Subrogation

Answers

Answered by dhirendrasaxena9425

0

Answer:

Your answer is

b. utmost good faith

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