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Fundamental Legal Principles

Fundamental Legal Principles

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Published by pankajgupta

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Published by: pankajgupta on Dec 27, 2008
Copyright:Attribution Non-commercial

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12/09/2012

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Fundamental LegalPrinciples
 
 
Legal Principles
Principle of IndemnityPrinciple of Insurable InterestPrinciple of SubrogationPrinciple of Utmost Good Faith
 
 
Principle of Indemnity
The insurer agrees to pay no more than theactual amount of the loss
Purpose:
 –To prevent the insured from profiting from aloss –To reduce moral hazard

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