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The principle of indemnity is one of the most important rules in insurance. The principle of subrogation and indemnity protects someone from multiple claims.
The fundamentals of the general insurance is a good topic for a short essay on the principle of insurance.
insurance works on the principle of indemnity, law of large numbers, principles of utmost faith etc.
contribution of megna life insurance
In real estate the principle of contribution is that the value of a component of property depends upon its contribution to the value of the whole property. The cost of an improvement does not necessarily equal the value the component adds to the property.
it is based on the equity principle of common law section 80, of marine insurance act refers to rateable share to strangers may insecure separately but need to contribute in case of a loss to the insecure
The term FEDVIP stands for Federal Employee Dental and Vision Insurance Program. The FEDVIP is an enroll pay all program, which means there is no contribution made by the government.
The most important contribution of Werner Heisenberg was the discovery of the uncertainty principle.
1. Utmost Good Faith 2. Insurable interest 3. Indemnity 4. Subrogation 5. Contribution
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insurance principles are the set guiding basis for different type of risks that occurs in every day life.They include:principle of insurable interestprinciple of subjugationprinciple of indemnityprinciple of utmost good faith(uberrima fides)principle of contribution
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