The basic principles of insurance are:- Principle of Utmost Good Faith. Principle of Insurable Interest. Principle of Indemnity.
Which is not the fundamental principle of insurance?
Principle of Mitigation of Loss.
What are the fundamental principles of insurance?
In the insurance world there are six basic principles that must be met, ie insurable interest, Utmost good faith, proximate cause, indemnity, subrogation and contribution.