General Knowledge · Banking and Insurance
Which basic principle of insurance specifies that the insurance company is liable to compensate the insured only up to the actual amount of loss suffered?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Principle of Utmost Good Faith
- 2Principle of Subrogation
- 3Principle of Contribution
- 4Principle of Indemnity✓
Correct answer
Principle of Indemnity
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