GCE Commerce 2022 Objective — Question 23
Question 23 of 50 from the General Certificate of Education (GCE) Commerce 2022 Objective paper, with the correct answer and a full explanation.
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The principle which prevents an insured from receiving a claim that is more than the value of the loss, if the property is insured by more than one company is
- A. Indemnity
- B. contribution
- C. proximate cause
- D. uberrimae fideiCorrect
Explanation
Per the source's answer key, this is attributed to the principle of utmost good faith (uberrimae fidei), which underpins the mutual duty of full disclosure between insurer and insured.
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