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Sanjay Bhattacharya keep his goods valued at rs 80,000 in a warehouse and had taken a fire insurance policy for the same. On 25 feb 2017,his stock caught fire, he however was not worried about the same and as he had insured the goods against the risk of fire, he did not even call the fire department for a fire lighting machines. The actual losses amounted to rs 65,000. State the relevant insurer principle in this regard. a. utmost good faith b. insurable interest . causa Proxima d. mitigation.?
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Sanjay Bhattacharya keep his goods valued at rs 80,000 in a warehouse ...
Utmost Good Faith is a principle in insurance which requires the insured to accurately disclose all material facts related to the insurance policy. This includes details such as the value of the insured goods, the risk of fire, and other relevant information. In this case, the insured accurately disclosed the value of his goods and took out a fire insurance policy to cover the risk of fire. As a result, the insurer is liable to pay the insured for the actual losses of Rs. 65,000 incurred due to the fire.
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Sanjay Bhattacharya keep his goods valued at rs 80,000 in a warehouse and had taken a fire insurance policy for the same. On 25 feb 2017,his stock caught fire, he however was not worried about the same and as he had insured the goods against the risk of fire, he did not even call the fire department for a fire lighting machines. The actual losses amounted to rs 65,000. State the relevant insurer principle in this regard. a. utmost good faith b. insurable interest . causa Proxima d. mitigation.?
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Sanjay Bhattacharya keep his goods valued at rs 80,000 in a warehouse and had taken a fire insurance policy for the same. On 25 feb 2017,his stock caught fire, he however was not worried about the same and as he had insured the goods against the risk of fire, he did not even call the fire department for a fire lighting machines. The actual losses amounted to rs 65,000. State the relevant insurer principle in this regard. a. utmost good faith b. insurable interest . causa Proxima d. mitigation.? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Sanjay Bhattacharya keep his goods valued at rs 80,000 in a warehouse and had taken a fire insurance policy for the same. On 25 feb 2017,his stock caught fire, he however was not worried about the same and as he had insured the goods against the risk of fire, he did not even call the fire department for a fire lighting machines. The actual losses amounted to rs 65,000. State the relevant insurer principle in this regard. a. utmost good faith b. insurable interest . causa Proxima d. mitigation.? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Sanjay Bhattacharya keep his goods valued at rs 80,000 in a warehouse and had taken a fire insurance policy for the same. On 25 feb 2017,his stock caught fire, he however was not worried about the same and as he had insured the goods against the risk of fire, he did not even call the fire department for a fire lighting machines. The actual losses amounted to rs 65,000. State the relevant insurer principle in this regard. a. utmost good faith b. insurable interest . causa Proxima d. mitigation.?.
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