Question

A provision found in insurance policies which prevents the insured from collecting twice for the same loss is called (Choose from the following options) 1. Consent to settle loss. 2. Right of salvage. 3. Appraisal. 4. Subrogation.

Answer 1

4. Subrogation.

Step-by-step explanation:

In the case when the insurer accept the payment of loss from the insurance company so there should be the transfer of the rights for recover to the insurer. It protects the insured from receiving twice time for the similar loss and permits the insurer to indemnify the insurance company

So as per the given situation, the option 4th is correct

And, the same is to be considered