Question

Which principle of insurance is highlighted in the following statements?

(i) Insured should take reasonable steps to minimise the loss.

(ii) Insurer is not liable for any uninsured causes or perils.

(iii) The insurer and the insured should disclose all material facts related to the

contract

(iv) Insured should have some economic interest in the subject matter of

insurance contract..

(v) Insured is entitled to recover the loss suffered by him, up to the limit of policy

amount. (vi) After compensating the loss, insurer gets all the rights with

respect to the subject-matter insured.​

Answer 1

Answer:

v insured is entitled to recover.

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Answer 2

Answer:

Insured is entitled to recover theoss suffered by him,up to the limit of policy

Explanation:

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