The insurer agrees to compensate the insured in consideration of a sum of money is called

Related MCQs

• The ________ is the party who agrees to compensate the other person against possible losses.
• _________ is a contract between two insures i.e. original insurer and another insurer.
• Re-insurer is the insurer who grants a guarantee from the _______
• When the same risk and subject matter is insured with more than one insurer is known as
• __________ refers to the right of an insurer to refuse admittance of the claim by the insured.
• ________ 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.
• __________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter.
• The proportion of the risk which the direct insurer holds on his own account is called _________
• The things or property insured is called ________ of the insurance
• When the amount for which a subject matter is insured is more than its actual value, it is called _________