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WAEC Commerce 2019 Question 26

Question 26

Insurance

The principle that applies when Greene and Sunwar Insurance Companies jointly indemnified Fatou for the destruction of her storey building by fire is

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

Answer: A (contribution.)

Explanation

When the same property is insured with more than one insurer, they share the claim under the principle of contribution.