The Insurance Company cannot prevent the happening of risk but provide for losses at the happening of risk.

Related MCQs

• Due to the inclusion of average clause in the fire insurance policy , an insured becomes a……………….in the event of under insurance.
• General insurance business in India is transacted by Life Insurance Corporation of India.
• Insurance is a financial service for collecting the saving of the public and providing them with a risk of a coverage.
• Profit and losses can’t be ascertained because Trading and Profit and loss account can’t be prepared.
• The………………Fund cannot be utilized for payment of dividend as bonus.
• A business takes a……………insurance policy to cover the claims for loss of stocks and loss of profit.
• ……………..clause is applicable in case of under insurance
• A marine insurance policy is taken to cover the claims for loss of stock.
• A policy of fire insurance is intended to protect the assured against the loss caused by fire.
• Average clause is applicable in case of under insurance.