Q.1. Mr. Satish gets his house insured against fire of Rs. 20 Lakh with insurer A and for Rs. 10
Lakh with insurer B. A loss of Rs. 3 Lakh occurred.
(1) How much compensation can be claimed from A and B separately and Why?
(2) Name the principle of Insurance in the above case.
Answers
Answered by
20
Answer:
A will pay 2 lakh and B will pay 1 lakh as in ratio of insured object. i.e. 2 : 1
Principal of contribution
Answered by
2
Answer:
Explanation:
the principle of insurance is principle of indemnity
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