JAMB Commerce 2021 Objective — Question 18
Question 18 of 40 from the Joint Admissions and Matriculation Board (JAMB) Commerce 2021 Objective paper, with the correct answer and a full explanation.
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18. The principle of subrogation in insurance business means a. Indemnifying the loss b. Substitution c. Transfer of rights d. Marginalisation
- A. Indemnifying the loss
- B. Substitution
- C. Transfer of rightsCorrect
- D. Marginalisation
Explanation
The principle of subrogation in insurance means a situation where an insurance claim (indemnity payment) is accompanied by the transfer of associated rights and duties to the insurer.
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