Question

identify the principle of insurance highligted in the given statements, (a) to claim for insurance the insuredust take reasonable steps to minimize the losts (b) isuref is entilted to recover the loss suffered by him, upto limits of policy amount (c) the insured is expected to disclose all the important facts related to the property insured (d) insure must have some economic interest in the subject matter of insurance contract​

Answer 1

Answer:

identify the principle of insurance highligted in the given statements, (a) to claim for insurance the insuredust take reasonable steps to minimize the losts (b) isuref is entilted to recover the loss suffered by him, upto limits of policy amount (c) the insured is expected to disclose all the important facts related to the property insured (d) insure must have some economic interest in the subject matter of insurance contract