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1. Mr. Satish gets his house …

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1. Mr. Satish gets his house insured against fire of Rs. 20 Lakh with insurer A and for Rs. 10 Lakh with insurer B. A loss of Rs. 3 Lakh occurred. (1) How much compensation can be claimed from A and B separately and Why? (2) Name the principle of Insurance in the above case.

Posted by Shreya Burman 5 years, 4 months ago

CBSE > Class 11 > Business Studies

3 answers

Amritpal Singh 2 years, 3 months ago

explain the scope of health insurance

Amit Sahu 5 years, 2 months ago

1. Mr. Satish gets his house insured against fire of Rs. 20 Lakh with insurer A and for Rs. 10 Lakh with insurer B. A loss of Rs. 3 Lakh occurred. (1) How much compensation can be claimed from A and B separately and Why? (2) Name the principle of Insurance in the above case

Vrinda Batra 5 years, 3 months ago

(1) 2 lakh can be claimed from insurer A and 1 lakh can be claimed from insurer B. Insurers A and B will contribute the loss in the ratio 2:1. (2) Principle of Insurance in above case is " Principle of Contribution."

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