How to judge insurance policy (money back)? #LLAShorts 83

A company took fire insurance policy for Rs 5 lakh . After three months, due to fire, insured suffered a loss of Rs 2 lakh . How much money will company get as compensation and why?

A company took fire insurance policy for Rs 5 lakh . After three months, due to fire, insured suffered a loss of Rs 2 lakh . How much money will company get as compensation and why?

A factory owner took a fire insurance policy for his factory without informing the insurance company that he received notice from electricity department to get the wiriing of the factory repaired. After six mounts of taking policy the factory caught fire due to faulty wiring . Will the factory owner get compensation for the loss due to fire? which principle of insurance is related with this case ? Explain that principle .

IRDAI has directed all third-party insurance companies to include vehicle insurance policies cover to vehicle owners- drivers of all vehicles (two-wheelers, three-wheelers, passenger vehicles and commercial vehicles). How much is that additional premium?

The period for the fire insurance policy is

Distribution of Insurance products and Insurance policies by banks as corporate agents is known as

A company has undertaken a fire insurance policy for Rs 5 lakh. After two mounts due to fire it incurred a loss of Rs 2 lakh. How much amount will the company get as compensation ?