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| fire insurance |
Fire insurance could be a device to atone for the loss consequent upon destruction by hearth. so the hearth insurer shifts the burden of fireside losses from their actual victims over all the members of the society.
fire insurance
It is co-operative device to share the loss. It relieves the insured from the horror of the hearth losses to that the exposed.
Fire insurance contract is also outlined an “as agreement whereby one party in come back for thought undertakes to indemnify different|the opposite} party against money loss that the latter could sustain by reason of bound outlined material being broken or destroyed by hearth of other outlined perils up to an agree quantity.” The party accountable to indemnify loss is termed the insurer, the party who is to be indemnified is termed the insured, the thought for the contract the termed “the premium, the outline material is termed the property insured” the add set forth within the contract is termed the assured add, and therefore the document containing the terms and conditions of the contract is thought as ‘the policy’.
fire insurance
It is co-operative device to share the loss. It relieves the insured from the horror of the hearth losses to that the exposed.
Fire insurance contract is also outlined an “as agreement whereby one party in come back for thought undertakes to indemnify different|the opposite} party against money loss that the latter could sustain by reason of bound outlined material being broken or destroyed by hearth of other outlined perils up to an agree quantity.” The party accountable to indemnify loss is termed the insurer, the party who is to be indemnified is termed the insured, the thought for the contract the termed “the premium, the outline material is termed the property insured” the add set forth within the contract is termed the assured add, and therefore the document containing the terms and conditions of the contract is thought as ‘the policy’.
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