Anju has taken a loan from Avi against the security of his factory. Can Avi take a fire insurance policy of that factory?
No, she cannot. Because in case of fire insurance, insurable interest has to be present both at the time of affecting the policy and also when the claim falls due.
There are three types of services: Business Services, Social Services and Personal Services. Which of the services in your opinion are of utmost importance and why?
A person took an insurance policy and did not disclose that he is a patient of cancer. Which value is missing in this case?
A person gets his stock of goods insured, but he hides the fact that the electricity board has issued him statutory warning letter to get his factory's wiring changed later on, the factory catches fire due to short circuit. Can he claim compensation? State the name of "Principle".
Manju obtained a life insurance policy of her husband. After 5 years, she divorced her husband. After one year of divorce, her husband died in a car accident. Can she claim the amount of policy from the insurance company?
Anju has taken a loan from Avi against the security of his factory. Can Avi take a fire insurance policy of that factory?
Describe various types of insurance and exercise the nature of risks protected by each type of insurance.