Which of the following is not a principle of insurance

A.

Insurable interest

B.

Subrogation

C.

Surrender value

D.

Proximate cause

View answer & explanation

Correct answer is C

There are seven basic principles that create an insurance contract between the insured and the insurer:

  1. Utmost Good Faith
  2. Insurable Interest
  3. Proximate Cause
  4. Indemnity
  5. Subrogation
  6. Contribution
  7. Loss Minimization

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