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Which statement best explains Contribution?

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Question ID #27320 UPSC UPSC EPFO APFC 2026 Mock Test Series UPSC EPFO APFC 2026 Full-Length Mock Test 8 Medium

Which statement best explains Contribution?

Correct Answer: A. Principle by which multiple insurers sharing the same risk contribute to an indemnity loss
Contribution: Principle by which multiple insurers sharing the same risk contribute to an indemnity loss

Question: Which statement best explains Contribution?

A. Principle by which multiple insurers sharing the same risk contribute to an indemnity loss

B. Financial or legal relationship giving a person a legitimate interest in preservation of insured subject matter

C. Consideration paid for insurance coverage

D. Insurance Regulatory and Development Authority of India

Correct Answer: A. Principle by which multiple insurers sharing the same risk contribute to an indemnity lossContribution: Principle by which multiple insurers sharing the same risk contribute to an indemnity loss

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Which statement best explains Contribution? - MCQ Explanation

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Correct answer: A. Principle by which multiple insurers sharing the same risk contribute to an indemnity loss