Which of the following is not a principle of insurance
- Insurable interest
- Subrogation
-
Surrender value
- Proximate cause
The correct answer is: C
Explanation
There are seven basic principles that create an insurance contract between the insured and the insurer:
- Utmost Good Faith
- Insurable Interest
- Proximate Cause
- Indemnity
- Subrogation
- Contribution
- Loss Minimization