3 answers
Sort By
ChatGPT
Aug 10
1. Utmost good faith: Both the insurer and the insured must act in good faith and disclose all relevant information to each other when entering into an insurance contract.
2. Insurable interest: The insured must have a financial interest in the subject matter of the insurance policy in order to purchase insurance.
3. Indemnity: Insurance is designed to compensate the insured for their actual financial loss, up to the limit of the policy, rather than to provide a windfall profit.
4. Contribution: If the insured has multiple insurance policies covering the same risk, each insurer will contribute proportionally to the loss.
5. Subrogation: If the insurer pays out a claim, they have the right to take legal action against any third party responsible for the loss in order to recover their costs.
6. Proximate cause: The insurance policy will only cover losses that are directly caused by the insured peril, rather than any indirect or remote causes.
7. Mitigation of loss: The insured must take reasonable steps to minimize their losses in the event of a claim, otherwise the insurer may reduce the amount of the payout.
8. Causa proxima: The insurance policy will cover the loss that is the immediate or direct cause of the claim, rather than any underlying or remote causes.
9. Reinstatement: In some cases, the insurer may choose to reinstate the policy after a claim has been paid out, rather than cancelling it altogether.
10. Insurable risk: The subject matter of the insurance policy must be a risk that is capable of being insured, such as fire, theft, or accident, and not something that is certain to happen.
2. Insurable interest: The insured must have a financial interest in the subject matter of the insurance policy in order to purchase insurance.
3. Indemnity: Insurance is designed to compensate the insured for their actual financial loss, up to the limit of the policy, rather than to provide a windfall profit.
4. Contribution: If the insured has multiple insurance policies covering the same risk, each insurer will contribute proportionally to the loss.
5. Subrogation: If the insurer pays out a claim, they have the right to take legal action against any third party responsible for the loss in order to recover their costs.
6. Proximate cause: The insurance policy will only cover losses that are directly caused by the insured peril, rather than any indirect or remote causes.
7. Mitigation of loss: The insured must take reasonable steps to minimize their losses in the event of a claim, otherwise the insurer may reduce the amount of the payout.
8. Causa proxima: The insurance policy will cover the loss that is the immediate or direct cause of the claim, rather than any underlying or remote causes.
9. Reinstatement: In some cases, the insurer may choose to reinstate the policy after a claim has been paid out, rather than cancelling it altogether.
10. Insurable risk: The subject matter of the insurance policy must be a risk that is capable of being insured, such as fire, theft, or accident, and not something that is certain to happen.
0
Google Gemini AI
Aug 10
Principles of Insurance in Uganda
1. Principle of Utmost Good Faith (Uberrimae Fidei):
Both the insured and the insurer must act with the utmost good faith and disclose all material facts that may influence the risk.
2. Principle of Insurable Interest:
The insured must have a legal or financial interest in the subject matter of the insurance. This ensures that the insured is not betting on a loss.
3. Principle of Indemnity:
The primary purpose of insurance is to restore the insured to the same financial position they were in before the loss occurred.
4. Principle of Subrogation:
Upon paying a claim, the insurer is subrogated to the rights of the insured against third parties who caused the loss. This allows the insurer to recover its payment from the liable party.
5. Principle of Contribution:
If there are multiple policies covering the same risk, each insurer is liable for a proportionate share of the loss.
6. Principle of Proximate Cause:
Only losses directly caused by the insured peril are covered.
7. Principle of Notification of Loss:
The insured is obligated to notify the insurer promptly about any loss or change in risk.
8. Principle of Loss Minimization:
The insured must take reasonable steps to minimize the loss.
9. Principle of Equitable Sharing of Losses:
Insurance contracts are designed to distribute the risk of loss among a large group of insureds.
10. Principle of Non-Discrimination:
Insurance companies cannot discriminate against applicants based on factors such as age, sex, race, or religion.
1. Principle of Utmost Good Faith (Uberrimae Fidei):
Both the insured and the insurer must act with the utmost good faith and disclose all material facts that may influence the risk.
2. Principle of Insurable Interest:
The insured must have a legal or financial interest in the subject matter of the insurance. This ensures that the insured is not betting on a loss.
3. Principle of Indemnity:
The primary purpose of insurance is to restore the insured to the same financial position they were in before the loss occurred.
4. Principle of Subrogation:
Upon paying a claim, the insurer is subrogated to the rights of the insured against third parties who caused the loss. This allows the insurer to recover its payment from the liable party.
5. Principle of Contribution:
If there are multiple policies covering the same risk, each insurer is liable for a proportionate share of the loss.
6. Principle of Proximate Cause:
Only losses directly caused by the insured peril are covered.
7. Principle of Notification of Loss:
The insured is obligated to notify the insurer promptly about any loss or change in risk.
8. Principle of Loss Minimization:
The insured must take reasonable steps to minimize the loss.
9. Principle of Equitable Sharing of Losses:
Insurance contracts are designed to distribute the risk of loss among a large group of insureds.
10. Principle of Non-Discrimination:
Insurance companies cannot discriminate against applicants based on factors such as age, sex, race, or religion.
0
Henry D French
Aug 10
"I'm thrilled to share my incredible experience with Santoshi Hacker Organization! I had lost access to my Bitcoin wallet, and with it, a significant amount of cryptocurrency. I was devastated and thought all hope was lost.
But then, I discovered Santoshi Hacker Organization, a team of expert hackers specializing in cryptocurrency recovery. I was skeptical at first, but their professionalism and expertise quickly put me at ease.
The team at Santoshi Hacker Organization worked tirelessly to recover my lost Bitcoins. Their cutting-edge cybersecurity guide and black ATM expertise allowed them to navigate the complex web of blockchain transactions and successfully retrieve my funds.
I was amazed when I saw my Bitcoins reappear in my wallet! The team's dedication, expertise, and discretion made the entire process seamless and stress-free.
I wholeheartedly recommend Santoshi Hacker Organization to anyone facing similar challenges. Their exceptional service has restored my faith in the cybersecurity community. Thank you, Santoshi Hacker Organization, for your outstanding work!"
Feel free to reachout to this Organization you we find help on your lost,
Contacts: website :[ https://santoshi02.wixsite.com/santoshihackerfundsr }
Email: { santoshihacker@hotmail.com }
0
