7 Principles of Insurance Explained | Ch 4 Business Services | Class 12 OCM | BBA/BMS/MBA скачать в хорошем качестве

7 Principles of Insurance Explained | Ch 4 Business Services | Class 12 OCM | BBA/BMS/MBA

📘 What is Insurance? | Principles of Insurance | OCM Chapter 4 Business Services In this video, we clearly explain the meaning of insurance and the 7 Principles of Insurance as per OCM (Organization of Commerce & Management) – Chapter 4 Business Services. This topic is very important for Class 11, Class 12 Commerce, and also useful for BBA, BMS, and MBA students. 🔹 What is Insurance? Insurance is a contract between the insurer and the insured, where the insurer agrees to compensate for financial loss arising from uncertain future events. In return, the insured pays a fixed amount called premium. Insurance helps in risk management and provides financial protection against unexpected losses. 🔹 7 Principles of Insurance Covered in This Video 1️⃣ Principle of Utmost Good Faith – Both parties must disclose all material facts honestly and clearly. 2️⃣ Principle of Insurable Interest – The insured must have a financial interest in the subject matter of insurance. 3️⃣ Principle of Indemnity – Insurance compensates only the actual loss, not profit. 4️⃣ Principle of Subrogation – After claim payment, legal rights over the property pass to the insurer. 5️⃣ Principle of Contribution – If insured with multiple insurers, loss is shared proportionately. 6️⃣ Principle of Mitigation of Loss – The insured must take reasonable steps to minimize loss. 7️⃣ Principle of Causa Proxima – The insurer considers the nearest or main cause of loss to decide liability. 7 Principles of Insurance | Chapter 4 Business Services | Class 12 OCM | BBA | BMS | MBA Principles of Insurance – OCM Chapter 4 Business Services (Class 11/12) 7 Principles of Insurance Explained Simply | Business Services OCM Principles of Insurance in One Shot | OCM Chapter 4 Insurance Principles Made Easy | Business Services Chapter 4 OCM Business Services: Principles of Insurance Full Explanation 7 Rules of Insurance You Must Know | OCM Exam Ready Principles of Insurance Explained with Examples | Class 11/12 OCM 7 Principles of Insurance Explained | Ch 4 Business Services | Class 12 OCM | BBA/BMS/MBA Principles of Insurance Class 11/12 | OCM Chapter 4 Business Services 🎯 This video is helpful for: ✔ Class 11 & 12 OCM Students ✔ Business Studies & Commerce Learners ✔ BBA / BMS / MBA Foundation Concepts ✔ Exam preparation for Business Services chapter Principles of Insurance Class 11, Principles of Insurance Class 12, What is Insurance in OCM, Insurance Meaning for Exams, OCM Chapter 4 Business Services, Business Services Insurance Topic, 7 Principles of Insurance, Insurance Principles Explained, Insurance Principles in Hindi, Principles of Insurance Easy Notes, Insurance Chapter for Commerce Students, BBA Insurance Basics, BMS Insurance Concepts, MBA Insurance Fundamentals, Utmost Good Faith Principle, Insurable Interest Meaning, Principle of Indemnity in Insurance, Subrogation Principle, Contribution Principle in Insurance, Mitigation of Loss Principle, Causa Proxima Meaning, Insurance Exam Preparation, Insurance Notes for Students, Commerce Insurance Chapter Principles of Insurance Class 11, Principles of Insurance Class 12, OCM Chapter 4 Business Services, What is Insurance, Insurance Meaning, Principles of Insurance in Hindi, Insurance Concepts for Exams, Business Services Insurance Topic, Utmost Good Faith, Insurable Interest, Principle of Indemnity, Subrogation, Contribution in Insurance, Mitigation of Loss, Causa Proxima If this helped, Like 👍 Share 📤 and Subscribe 🔔 for more easy Commerce concepts!