…………….principle means that the insured is not entitled to make a profit on his loss.

Related MCQs

• The principle of _____________ ensures that an insured does not profit by insuring with multiple insurers
• The purpose of ………. Are to hold the negligent person responsible for the loss and prevent the insured from collecting twice for the same loss.
• ………..principle in insurance mention the cause of loss must be direct and an insured one in order to claim for compensation.
• Under ________ insurance, loss of profit policy is called as consequential loss policy
• ………… 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.
• __________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter.
• ________ means the transfer of all the rights and remedies available to the insured in respect of the subject matter to the insurer after indemnity has been effected.
• When the same risk and subject matter is insured with more than one insurer is known as
• Which clause specifies the perils insured in a scheduled form of policy?