Describe five principles under which insurance practice is carried out in Kenya

      

Describe five principles under which insurance practice is carried out in Kenya

  

Answers


Isaac
Idemnity -reinstates,compensates the insured after the loss
Proximate cause-there should be a close relationship between the risk insured against the cause of the occurence
Sabrogation-after compensation thew insured takes over the right on the subject matter
Utmost good faith -insured must disclose all relevant facts concerning the subject matter being insured
Insurance interest -the insured must suffer financial loss incase of occerence
isaacmuthini answered the question on October 11, 2017 at 12:28


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