__________ means insuring a risk with two or more insurers and the total sum insured also exceeds the actual value of the subject matter.

Related MCQs

• When the amount for which a subject matter is insured is more than its actual value, it is called _________
• ________ 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.
• The interest which the insured has in the subject matter of insurance is called ________
• ________ means insuring again.
• ________ means to make good the actual loss and nothing more than the actual loss.
• Which principle suggests that insured should try to minimize the loss of his property even if it is insured?
• Which of the statement are true? A. Risk retention and risk transfer are some of the techniques to manage risks. B. Implementation is one of the steps in risk management
• __________ means a complete loss or destruction of the subject matter in the policy.
• Which of the following types of risks best meets the requirements for being insurable by private insurers?
• The insurer agrees to compensate the insured in consideration of a sum of money is called