Business Studies · Principles of Insurance
Match LIST-I with LIST-II LIST-I (Principle of Insurance) A. Indemnity B. Contribution C. Subrogation D. Proximate Cause LIST-II (Definition / Application) I. The insurer takes over the insured's rights to seek recovery from a responsible third party after paying a claim. II. Determines the primary or nearest event that leads to a loss when multiple causes are involved. III. Restores the insured to their previous financial position without allowing them to gain a profit. IV. Requires multiple insurers covering the same risk to pay a proportionate amount of the loss. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-III, B-II, C-IV, D-I
- 2A-I, B-IV, C-III, D-II
- 3A-III, B-IV, C-I, D-II✓
- 4A-IV, B-III, C-II, D-I
Correct answer
A-III, B-IV, C-I, D-II
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