Question

Name the principle of insurance under which the insurer stands in place of the insured after settlement of the claim,in relation to insured property.​

Answer 1

subrogation: the doctrine of subrogation is an extension and a corollary of the principle of indemnity according to eat the insurance steps into the shoes of the institute and becomes entitled to all sides of the insured regarding the subject matter of insurance after claiming of the insured has been fully and finally settled in some cases there may be a possibility of his getting something in addition to what which has been received from the insurance company the goods may have been partially damaged or the property may not have been fully destroyed in such cases then should try to obtain the value of scrap in addition to the money received in settlement of the claim .