Examveda What is the ‘consideration’ from the insured in an insurance contract? A. PremiumB. ProposalC. UnderstandingD. AcceptanceAnswer: Option A Solution (By Examveda Team) The premium is the consideration from the insured, and the promise to indemnify, is the consideration from the insurers. This Question Belongs to Commerce >> Insurance
Solution (By Examveda Team) The premium is the consideration from the insured, and the promise to indemnify, is the consideration from the insurers.
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