ram took an insurance policy for his car in an accident his car got totally damaged insurer paid the full policy value to the insured. ram has sold his car as scrap for rs. 50,000 is he correct identify and explain
the insurance principal violated in this case
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The seagull didn't have the courage to fly . Hence, he used to make excuses for not flying. He felt certain that his wings were to weak to support him. That's why he was exhausted by the strange excersise
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Principle of Subrogation
Explanation:
No, Ram is not correct when he sold his car as scrap. Also, the principle violated in this case is Principle of Subrogation.
After the insured (Ram) gets the claim money, the insurer steps into the shoes of insured. After making the payment insurance claim, the insurer becomes the owner of subject matter.
Ram took an insurance policy for his Car. In an accident his car totally damaged. Insurer paid the full policy value to insured. Now, Ram cannot sell the remained scrap after claiming the insurance policy.
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