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Question

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A person get his house insured against fire for Rs. 10,00,000 with insurer A and for Rs. 5,00,000 with insurer B. The house gets fire and he loses Rs. 7,50,000. In case under what principle of insurance, he will get Rs. 5,00,000 from insurer A and Rs.2,50,000 from insurer B ?

Solution

Under the principle of contribution.

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