List of top Commerce Questions on Insurance Principles asked in CUET (PG)

A fire was set at 'X' house and left a wall of his neighbour 'Y' in a dangerous state. After a few days, a windstorm came and caused the wall to fall and damage Y's property covered under fire insurance. Choose the correct answer:

"A" bought two life insurance policies, one from XYZ company and second from WXY company of a sum of ₹20,00,000 and ₹30,00,000. He met an accident and was admitted to hospital and unfortunately died. The legal representatives of the insured are entitled to get:

Match List - I with List - II:

Which of the following principles distinguishes an insurance contract from a wagering contract?

Mr. A insures his house worth Rs. 10 crores with two insurers HDFC for Rs. 7.50 crores and Bajaj Allianz for Rs. 7.50 crores. The actual loss of house destroyed is Rs. 7 crores. Now, Mr. A can claim full loss of Rs. 7 crores either from HDFC or Bajaj Allianz or proportionately Rs. 3.5 crores from each of them. Which principle of insurance is applicable in this situation?