No products in the cart.

Explain the following principles of insurance …

CBSE, JEE, NEET, CUET

CBSE, JEE, NEET, CUET

Question Bank, Mock Tests, Exam Papers

NCERT Solutions, Sample Papers, Notes, Videos

Explain the following principles of insurance with example: 1. Principle of indemnity 2. Principle of subrogation

Posted by Hemant Ritesh Sourashtriya 5 years, 4 months ago

CBSE > Class 11 > Business Studies

2 answers

Suhani Sharma 5 years, 4 months ago

Principle of Subrogation After the insured gets the claim money, the insurer steps into the shoes of insured. After making the payment insurance claim, the insurer becomes the owner of subject matter. For example :- Ram took a insurance policy for his Car. In an accident his car totally damaged. Insurer paid the full policy value to insured. Now Ram can't sell the scrap remained after the scrap.

Suhani Sharma 5 years, 4 months ago

) Principle of Indemnity Insured can't make any profit from the insurance contract. Insurance contract is meant for coverage of losses only Indemnity means a guarantee to put the insured in the position as he was before accident This principle doesn't apply to life insurance contracts

ANSWER

http://mycbseguide.com/examin8/

Related Questions

Ankita is tha manager of mnc case study

Posted by Z Hw 5 hours ago

CBSE > Class 11 > Business Studies

0 answers

What do you understand by SVA Analogy

Posted by Vineet Jaiswal 2 weeks, 4 days ago

CBSE > Class 11 > Business Studies

0 answers

Sarthak electronics Ltd. has a loss of Rs 1500000 to pay

Posted by Harshnoor Handa 1 month, 4 weeks ago

CBSE > Class 11 > Business Studies

0 answers

Creative strokes is an advertisement

Posted by Lumi Maozi 1 month, 1 week ago

CBSE > Class 11 > Business Studies

0 answers

This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html

Few rules to keep homework help section safe, clean and informative.

Don't post personal information, mobile numbers and other details.
Don't use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions.
Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying.
Ask specific question which are clear and concise.

Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.

Posted by Deepanshu Gautam 1 month, 2 weeks ago

CBSE > Class 11 > Business Studies

1 answers

Who is a secret partner?

Posted by Pronab Baroi 1 month, 4 weeks ago

CBSE > Class 11 > Business Studies

3 answers

Explain the need for outsourcing

Posted by Isha Gautam 3 weeks ago

CBSE > Class 11 > Business Studies

0 answers

WHAT IS THE SEVERAL SOURCES OF FUNDING .

Posted by Ayushi Singh 2 months ago

CBSE > Class 11 > Business Studies

1 answers

Limited decided to start a new enterprises on their own name with the diversifying their products to rural areas in their initial years of their business their efforts were taken to reduce the cost as much as possible so that the provide employment opportunities to the people of rural areas within few years company realised that they were started generating some revenue apart from their cost so company decided to increase the various of the workers question one mention the objectives of business discussed in the above

Posted by Fbrbr Ccjjck 5 days, 7 hours ago

CBSE > Class 11 > Business Studies

0 answers

Dash keep and changing their business from one locality to another depending upon the portability of the area have a word the change of place is not frequent as in the case of huckers or market traders they deal in the consumer items as well

Posted by Shila Samniwala 1 month, 1 week ago

CBSE > Class 11 > Business Studies

0 answers

myCBSEguide App

myCBSEguide

Trusted by 1 Crore+ Students

Test Generator

Test Generator

Create papers online. It's FREE.

CUET Mock Tests

CUET Mock Tests

75,000+ questions to practice only on myCBSEguide app

Google Play

Download myCBSEguide App