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WAEC Commerce 1991 (August) Question 20

Question 20

Insurance

When a number of insurers are liable under one given policy, the principle of insurance that applies is

  1. A.indemnity
  2. B.subrogation
  3. C.abandonment
  4. D.contribution
  5. E.proximate cause
Show the answer and explanation

Answer: D (contribution)

Explanation

Under contribution, insurers covering the same risk share the loss between them.