________ is a social device for eliminating or reducing the loss of society from certain risk.

Related MCQs

• ……… may be described as a social device to reduce or eliminate risk of loss to life and property.
• ………….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
• When the same risk and subject matter is insured with more than one insurer is known as
• Insurance cannot prevent the occurrence of risk but it provides for the………
• Risk is evaluated on the basis of ________ theory
• From the following, which is not a type of risk?
• In insurance the risk is ________
• __________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter.