Q. In general insurance, when should insurable interest be present?

View solution

Q. When must insurable interest be present in marine cargo insurance?

View solution

Q. In which types of insurance should insurable interest be present both at the time of taking the policy and at the time of loss?

View solution

Q. What is proximate cause in insurance and how does it apply to non-life insurance claims?

View solution

Q. What is the definition of proximate cause?

View solution

Q. In what situations does the principle of proximate cause become applicable in insurance?

View solution

Q. What are some examples of losses that may be paid by business under fire insurance policies but cannot be considered proximately caused by fire?

View solution

Q. Mr. Pinto contracted pneumonia as a result of lying on wet ground after a horse riding accident. The pneumonia resulted in death of Mr. Pinto. What is the proximate cause of the death?

View solution

Q. What is the primary principle behind the Principle of Indemnity in non-life insurance policies?

View solution

Q. How does the insurance company determine the indemnity to be paid under the Principle of Indemnity?

View solution

Q. Which of the following is an example of the Principle of Indemnity in action?

View solution

Q. In what situation is the 'Agreed Value' principle adopted in insurance?

View solution

Q. What is "underinsurance" in the context of non-life insurance?

View solution

Q. What is subrogation in the context of insurance?

View solution

Q. When does subrogation occur in insurance contracts?

View solution

Q. How does subrogation prevent the insured from collecting more than the loss?

View solution

Q. When does subrogation typically occur in insurance contracts?

View solution

Q. What is the principle of 'Contribution' in insurance?

View solution

Q. When does the Principle of Contribution apply in insurance contracts?

View solution

Q. If Mr. Srinivas has insured his house with two insurance companies for the full value of Rs. 12 lakhs each and suffers a fire loss of Rs. 3 lakhs, how much can he claim from each of the insurers under the Principle of Contribution?

View solution