Insurance works on which principle? - Insurance (General Studies) Solved Question

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Q · InsuranceMedium · 45s

Insurance works on which principle?

TopicInsurance

Question Typemultiple choice

DifficultyMedium

Marking+1 / −0.25

Test Duration30 min

Step-by-Step Solution

Every step explained - no skipped algebra.

Except for life insurance, insurance seeks to restore the insured to the same financial position as before the loss.

Final Answer: Option (B) Principle of Indemnity