III IC-11 Practice Questions - III IC-11 Practice Of General Insurance Exam

Contribution applies when:

Only one insurer exists in the market The insured has no other insurance Two or more policies cover the same interest, peril, and subject matter for the same period, and a loss occurs A life policy and a fire policy cover different risks

Correct Answer:

Two or more policies cover the same interest, peril, and subject matter for the same period, and a loss occurs

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