Question

It is the right of an insurer who has paid claim under insurance, to call upon other liable insurers to
make payment for the loss. Which of the following principle is relevant to the above statement?
a) Principle of Subrogation
(b) Principle of Contribution
(c) Principle of utmost good faith
(d) Principle of indemnity​

Answer 1

Explanation:

Utmost good faith is a common law principle (sometimes called Uberrimae Fidei). The principle means that every person who enters into a contract of insurance has a legal obligation to act with utmost good faith towards the company offering the insurance

Answer 2

Answer:

(B) principal of contribution