When the amount for which a subject matter is insured is more than its actual value, it is called _________

Related MCQs

• __________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter.
• When the same risk and subject matter is insured with more than one insurer is known as
• ________ 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.
• ………….is an amount in excess of the value of insurers assets over the amount of liabilities.This amount is prescribed by IRDA.
• Which is not a subject matter of marine insurance
• Human life is the subject matter of a contract of ________
• The insurer agrees to compensate the insured in consideration of a sum of money is called
• The things or property insured is called ________ of the insurance
• Which clause specifies the perils insured in a scheduled form of policy?
• The principle of _____________ ensures that an insured does not profit by insuring with multiple insurers