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

Related MCQs

• _________ is an agreement where by the insurer agrees to indemnity the insured against marine losses.
• The ________ is the party who agrees to compensate the other person against possible losses.
• Fire insurance is a device to compensate the insured for the loss caused by _______
• Transfer of rights and remedies of the insured to the insurer after indemnity has been effected is called __________.
• _________ is a contract between two insures i.e. original insurer and another insurer.
• Re-insurer is the insurer who grants a guarantee from the_______
• In ________ the individual risk is offered by an insurer for acceptance or rejection by re-insurer
• ________ is a valid contract between the insured on the one side and the insurer on the other
• __________ 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.