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LoginName the principle of insurance for each of the following statements: (a) The insured is expected to disclose all the important facts related to the property insured. (b) To claim for insurance the insured must take reasonable steps to minimize the loss.
Business Studies Secondary School in Business Studies 11 months ago
ong>Answer:
(b)) Mitigation
Explanation:
(a) there should be a mutal understanding between insurer and insured and insured must disclose all the happening event to insurer.
(b) the insured must take reasonable step to be safe after being insured for LOSS other if claim of loss to insurance company it MAY be lost if they say it. was a PLAN for money.
hope it help
Posted on 08 Nov 2024, this text provides information on Business Studies related to Secondary School in Business Studies. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
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