Question

Niranjan got his shop insured against fire for R 5 lakh. One day fire took place and goods of the value of R70,000 were destroyed but insurance company accepted claim for R70,000 only. Under which principle of insurance, the insurance company took the decision?
(A) Utmost good faith
(B) Insurable interest
(C) Indemnity
(D) Contribution

Answer 1

Answer:

C} option will be the answer to your question

Explanation:

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Answer 2

Answer:

Indemnity

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