Question
a.
When the insurer agrees to pay an excessive amount to the insured.
b.
When the insurance policy covers only certain types of losses.
c.
When the insured claims an amount exceeding the actual loss.
d.
When the property has not been insured for its full value.
Posted under IC38 Life Insurance Agent Exam
Interact with the Community - Share Your Thoughts
Uncertain About the Answer? Seek Clarification Here.
Understand the Explanation? Include it Here.
Q. What is "underinsurance" in the context of non-life insurance?
Similar Questions
Explore Relevant Multiple Choice Questions (MCQs)
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
Q. Why doesn't the Principle of Contribution apply to Life Insurance?
View solution
Q. Which among the following is an example of coercion?
View solution
Q. Which among the following options cannot be insured by Ramesh?
View solution
Q. What is the significance of the principle of contribution?
View solution
Recommended Subjects
Are you eager to expand your knowledge beyond IC38 Life Insurance Agent Exam? We've handpicked a range of related categories that you might find intriguing.
Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!
