Business Studies

Write short notes on the following : 
Principle of subrogation.


SOLUTION
The principle of Subrogation refers to the right of the insurer to stand in the place of the insured, after settlement of a claim, After the insured is compensated for the loss or damage to the property insured by him by the insurer he has no right of ownership. 
The right of ownership of such property passes on to the insurer. Thus, the insured is not allowed to make any profit, by selling the damaged property or in the case of lost property being recovered.
View Full Answer

Its FREE, you're just one step away


Subjective Medium Published on 18th 08, 2020
Next Question
Questions 244531
Subjects 8
Chapters 125
Enrolled Students 146
Enroll Now For FREE

Realted Questions

Q1 TRUE/FALSE Medium
A meeting is not valid without the quorum. 
  • A. True
  • B. False

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q2 Single Correct Medium
An assessee has paid life insurance premium of Rs. 25, 000 during the previous year for a policy of Rs. 1, 00, 000. He shall __________________________.
  • A. Not be allowed deduction u/s 80C
  • B. Be allowed Deduction u/s 80C to the extent of 20% of the capital sum assured i.e.Rs. 20, 000
  • C. Be allowed Deduction for the entire premium as per the provisions of section 80C
  • D. None of the above

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q3 Subjective Medium
Fill in the blanks with suitable words in the following incomplete sentences.
The person who receives the benefit is called ____ in insurance.

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q4 TRUE/FALSE Medium
State the following statement is True or False:
Subject line is also called caption line.
  • A. True
  • B. False

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer
Q5 Single Correct Medium
ROI stands for ______________.
  • A. Return On Investment
  • B. Return On Internet
  • C. Retyping Of Instruction
  • D. Redesigning Of Interpreter

Asked in: Business Studies - Business Services


1 Verified Answer | Published on 18th 08, 2020

View Answer