what are the insurance principles ?explain
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There are seven basic principles that create an insurance contract between the insured and the insurer: Utmost Good Faith. Insurable Interest. Proximate Cause.
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7 Most Important Principles of Insurance
Nature of contract
Principal of utmost good faith
Principle of Insurable interest
Principle of indemnity
Principal of subrogation
Double insurance
Principle of proximate cause
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