i) Utmost good faith-ensures that details offered are up to date and correct for proper
evaluation
ii) Indemnity-stresses the understanding that in the event of loss, the insure does not
benefit/insures does not over compensate
iii) Contribution-creates understanding to insurers who may have jointly ensured a risk
iv) Insurable interest-ensures that insured does not incur losses on property not assured by
insurer
Kavungya answered the question on April 3, 2019 at 09:24
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