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insurance :champagne: (principles of insurance (conribution (This means…
insurance :champagne:
principles of insurance
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subrogation
this means once they fully indemnify the insured person they have the right to all the parts :warning:
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Utmost good faith
This means when applying for insurance you must reveal all relevant information to the insurance company :smiley:
insurable interest
This means that you can only insure something if you gain from its existence or suffer a real loss :fire:
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