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Explain the principle of principle of subrogation

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Reference no: EM132468181

Question 1: Explain the Principle of principle of Subrogation.

Question 2: When Principle of Contribution operates in Insurance Contract?

Point i. On December 15, 2017, a fire broke out in the factory building and its storehouse. It was measured that the total loss was Tk. 400,000 of which Loss of Tk. 1,00,000 is attributed to of policies under for the Storehouse and the remaining Tk. 300,000 is attributed to Machineries. Show how the company will be indemnified from different policies

Point ii. On same day, one of the delivery vans of the company was severely damaged due to an accident on Dhaka-Chittagong Highway. Show how the policies will contribute to the loss.

Attachment:- subrogation.rar

Reference no: EM132468181

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