________ means to make good the actual loss and nothing more than the actual loss.

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 amount for which a subject matter is insured is more than its actual value, it is called _________
• Which of the statements are true? A. Loss prevention and loss reduction mean different things. B. Risk maybe transferred by contract.
• The cause of loss or a contigency that may cause a loss is known as--------------
• Under ________ insurance, loss of profit policy is called as consequential loss policy
• ________ means closure or writing off the policy before its actual maturity
• Constructive total loss in marine insurance means
• __________ means a complete loss or destruction of the subject matter in the policy.
• ________ Means restoring the victim of a loss by payment, repair or replacement.
• Suppose a project has many hazards that could easily injure one or more persons and there is no method of avoiding the potential for damages. The project manager should consider __________ as a means of deflecting the risk.