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What are 5 principles of insurance?

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What are 5 principles of insurance?

I'm obligated to ask this question of Insurance subject

This question was addressed to me in an internship interview.

Other related questions to my question are:-

What are 5 principles of insurance?

What are the principles of insurance?

What are the 7 principles of insurance explain?

What are the 5 principles of marine insurance?

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The correct answer by me is: - Utmost Good Faith.

- Insurable Interest.

- Indemnity.

- Contribution.

- Subrogation.

- Loss Minimization.

- Proximate Cause.

The title of my answer can be What Are Principles of Insurance (& Which Is Most Important)

The heading of my answer is Insurance policies are defined by seven basic principles:

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