Principles of Insurance

As is with all the good & beneficial things in life it happens with Insurance also, that people start making misuse of the security that Insurance helps safeguard us from. Therefore, Insurance works on certain principles so that no one misuses it.

Principles of Insurance :

  1. Principle of Insurable Interest.
  2. Principle of Utmost Good Faith.
  3. Principle of Indemnity.
    • Principle of Contribution.
    • Principle of Subrogation.
  4. Principle of Proximate Cause.
  5. Principle of Mitigation.

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