Law of large Numbers/ Averages - Many contributors cross subsidise some losers.
Principle Insurable Interest - Insured should have a relationship with subject matter insured.
Principle of Utmost Good Faith - Complete & fair disclosure of risks
Principle of Proximate Cause - Reason of damage should be covered under insurance contract
Principle of indemnity - - Insurance should not lead to profit
Principle Insurable Interest - Insured should have a relationship with subject matter insured.
Principle of Utmost Good Faith - Complete & fair disclosure of risks
Principle of Proximate Cause - Reason of damage should be covered under insurance contract
Principle of indemnity - - Insurance should not lead to profit
