Business Studies, asked by priyakchauhan97226, 9 months ago

what is the principle of insurance???​

Answers

Answered by Anonymous
18

Answer:

7 principles of Insurances mentioned below:

Utmost Good Faith

Proximate Cause

Insurable Interest

Indemnity

Subrogation

Contribution

Loss Minimization

Answered by aadil1290
32

Answer:

The basic principle of insurance is that an entity will choose to spend small periodic amounts of money against a possibility of a huge unexpected loss. Basically, all the policyholder pool their risks together. Any loss that they suffer will be paid out of their premiums which they pay

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