Proximate cause and the Average clause: Under and over insuring

By |2022-09-15T12:42:51+02:00July 16th, 2015|Notes, O Level Commerce Notes, Ordinary Level Notes|

Image credit yourinsurancequestion.com

Image credit yourinsurancequestion.com ZIMSEC O Level Commerce Notes: Insurance: Proximate cause and the Average clause: Under and over insuring
  • This prevents the insured from making a profit by:

1) Under-insuring a risk or paying less premiums.

  • When a loss is incurred under such circumstances the insurer will not indemnify the […]

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