Question

W. This source involves ploughing back of profit. Sharebelden hos des
19. Mansi is running a general store. The store was insured against natural disaster like flood,
earthquake and fire from Hindustan General Insurance Company for the amount of $50 lacs. Heavy
raining in the city caused massive flood. This left the store without any security. The store was looted
people which was caught on CCTV. She claimed from the insurance company the amount of damage of
13 lacs for the material and furniture spoiled from flood and also 5 lacs for the loss of material by
theft, she also claimed another 25 lacs for now converting the store into fully AC and additional floor
for more storage space. Insurance after assessing the damage to the property and stock due to flood
and seeing the CCTV footage accepted the claim of 13lacs. Mans argued that as she has being paying
premium for 50 lacs she should be paid the full claim of 43 lacs.
1. What is the fundamental principle of Insurance?
2. Identify and explain the principles of insurance Involved by Insurance company By accepting
the claim amount.
126/strong
18​

Answer 1

Answer:

Bla la bla jjla bal hdaj lab