Insurances: Principles for Insurable Events, Unforeseeability and Insurable Interest

Description

This Skill Bit covers essential insurance principles, including unforeseeability, insurable interest, indemnity, contribution, subrogation, utmost good faith, and proximate cause, emphasizing their significance in policy management and claims settlement. The Principle of Unforeseeability ensures coverage for only unforeseeable, accidental losses, while insurable interest requires a financial stake in the insured item to prevent misuse and ensure adequate financial protection.

Duration approx. 4 Min.

Tier: proficiency