Average clause is applicable in case of under insurance.

Related MCQs

• Due to the inclusion of average clause in the fire insurance policy , an insured becomes a……………….in the event of under insurance.
• ……………..clause is applicable in case of under insurance
• General insurance business in India is transacted by Life Insurance Corporation of India.
• Revised AS 15 – Employees benefits is applicable in respect of accounting periods commencing on or after 1st April ----------
• The ratio which measures the relationship between the cost of goods sold and the amount of average inventory is
• A business takes a……………insurance policy to cover the claims for loss of stocks and loss of profit.
• The Insurance Company cannot prevent the happening of risk but provide for losses at the happening of risk.
• Insurance is a financial service for collecting the saving of the public and providing them with a risk of a coverage.
• 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.