44+ 6 Principles Of Insurance Images. Certain elements in this contract must be present in order to make it legally it is, therefore, argued that the following are different principles of insurance. Knowing about insurance and its principles is important especially for candidates appearing for insurance exams such as lic, nicl, niacl and irda.
TechnoFunc - Principles of Insurance from www.technofunc.com Sometimes a person gets his property insured with more than one insurance company. As per insurance principle of proximate cause should be taken into consideration in order to determine the obligations. Welcome to the introduction to insurance principlesthere are some basic principles that govern the conduct of insurance.
Absence of insurance makes the contract null and void.
The person who determines rates and premiums. Let us take an example of principle of proximate cause to understand better. Insurance is possible in case of indemnity contract like fire, marine and property insurance. Insurance contract is based on mutual trust.
