The Inhabitants of Rhodes adopted a Practice, where- by, if Some Goods were lost due to Jettisoning, during Distress, the Owners of Goods (even those who lost Nothing) would bear the Losses in Some Proportion. Which Phenomenon is illustrated, in this Scenario?

Related MCQs

• Select a Scenario, that showcases the Principle of Uberrima Fides.
• Discover the Scenario, where-in, the Insurer may charge an Extra Premium, to the Insured.
• A Life Assurance Company paid the Treatment Costs to the Insured, During the Event of Hospitalisation of the Insured, During the Policy-Term. This is an Example of --.
• --- Planning involves: How Much You should Save for Your After-Working-Life, and Where should You Invest those Funds.
• Identify the Circumstances, under which, the Policy- Holder would need to appoint an Appointee.
• Mr. Ramesh is 55 Years' Old, and has 5 Working-Years, Left for Retirement. Currently, His Annual Income is Rupees 5 Lakhs, and He has purchased a Life Assurance Policy of Rupees 15 Lakhs. If He were to die Pre-Maturely, in the Current-Year, it-self, then, How Much Will His Family get from the Life Assurance Company?
• Mr. Vishal had taken an Insurance of Rupees 50 Lakhs, for a Period of 25 Years. On Maturity, the Insurer pays the Maturity-Claim Minus the Survival-Benefits, Received During the Term of the Policy. Which Type of Plan, was taken, by Mr. Vishal?
• Mr. Kapil had taken Insurance-Cover of Rupees 50 Lakhs, for a Period of 25 Years. Mr. Kapil dies in a Car- Accident, during the Policy-Term, and the Company pays the Sum-Assured Plus Accumulated Bonuses, to His Nominee. Which Type of Claim, was paid by the Insurance Company?
• Construct a Situation, that would require Evidence of Insurability, at Revival.
• How Would You Describe the Agreement between the Insurer and the Insured? Choose the Most Appropriate Option.