New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Which of the following principles of Insurance enables

    the insured to claim the amount from the third party responsible for the loss?
    A Insurable Interest Correct Answer Incorrect Answer
    B Principle of Subrogation Correct Answer Incorrect Answer
    C Principle of Contribution Correct Answer Incorrect Answer
    D Double insurance Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    This principle is the right for an insurance company to legally approach a third-party for causing insurance losses to the policyholder. This is done when the insurer pays for the loss to the insured, and then pursues recovery of that amount

    Practice Next