Which of the following is not a principle of insurance
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Correct Answer: Option C
Explanation:
There are seven basic principles that create an insurance contract between the insured and the insurer:
Utmost Good Faith
Insurable Interest
Proximate Cause
Indemnity
Subrogation
Contribution
Loss Minimization
There are seven basic principles that create an insurance contract between the insured and the insurer:
Utmost Good Faith
Insurable Interest
Proximate Cause
Indemnity
Subrogation
Contribution
Loss Minimization