The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is
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Correct Answer: Option B
Explanation:
The principle of contribution applies when the same property is insured against the same risk with more than one insurer. It ensures that the insurers share the liability for the loss and prevents the insured from recovering more than the actual loss suffered.
The principle of contribution applies when the same property is insured against the same risk with more than one insurer. It ensures that the insurers share the liability for the loss and prevents the insured from recovering more than the actual loss suffered.