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All the following are principles of insurance EXCEPT

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Commerce JAMB 2024

All the following are principles of insurance EXCEPT

  • insurable interest
  • particular average checkmark
  • utmost good faith
  • subrogation

The correct answer is: B

Explanation

Particular average is not one of the principles of insurance. It refers to a type of partial loss that occurs when a specific item or interest is damaged or lost, and the loss is borne by the owner of that particular item or interest, rather than being spread across all parties insured.

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