Question

What are the 5 principles of marine insurance?

Question is from Insurance topic

The question was posed to me during an online exam.

Other related questions to my question are:-

How many principles are there in marine insurance?

What is the principle of indemnity in marine insurance?

What is the principle of utmost good faith in marine insurance?

What are the types of marine insurance policy?

Answer 1

Right answer is: The fundamental principles of Marine Insurance are drawn from the Marine Insurance Act, 1963* As in all contracts of insurance on property, the contract of Marine Insurance is based on the fundamental principles of Indemnity, Insurable Interest, Utmost Good Faith, Proximate Cause, Subrogation and Contribution.

The title of my answer can be Marine Insurance