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WAEC Commerce 1993 Question 35

Question 35

Insurance

The insured is prevented from making profit from claims under more than one policy for the same risk by the principle of

  1. A.contribution
  2. B.subrogation
  3. C.utmost good faith
  4. D.proximate cause
  5. E.insurable interest
Show the answer and explanation

Answer: A (contribution)

Explanation

Under contribution, insurers covering the same risk share the loss, so the insured cannot claim the full loss from each.