……… may be described as a social device to reduce or eliminate risk of loss to life and property.

Related MCQs

• ________ is a social device for eliminating or reducing the loss of society from certain risk.
• ………….of India offers a range of credit risk insurance covers to exporters against loss in export of goods and services.
• The purpose of ………. Are to hold the negligent person responsible for the loss and prevent the insured from collecting twice for the same loss.
• Under ________ insurance, loss of profit policy is called as consequential loss policy
• ________ is the property saved from loss
• The agents who are selling policies of several life and non life insurance companies at a time are known as
• ………..is the first comprehensive legislation governed both life and non-life branches of insurance was enacted to provide strict state control over the insurance business in India.
• …………are agents but they can sell policies of several life and non-life insurance companies at a time.
• ………… principle in insurance mention the assured must have insurable interest in the life or property insured.
• The ________ is the party who gets his life or property insured against risks.