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Question 37 Not yet answered Marked out of 1.00 P Flag question Which of the following insurance contract is not based on the principle of indemnity? Done Marine insurance Car insurance Life insurance Fire insurance Calculate the net premium and net claims from the information given below: Particulars Direct Re- business Insurance (OMR) (OMR) Premium 1,200,000 180,000 received Premium receivable 1.1.2019 60,000 10,500 31.12.2019 90,000 14,000 Premium paid 120,000 Premium payable 1.1.2019 10,000 31.12.2019 21,000 Net Premium Done OMR 1,473,000 OMR 1,282,500 None of these OMR 1,293,500 Net Premium Particulars Direct Re- business Insurance (OMR) (OMR) Claims paid $25,000 62,500 Claims payable 11.2019 47,500 6.500 31.12.2019 87,500 1000 50,000 Claims received Claims receivable 1.1.2019 4.500 31.12.2019 5,000 Net Claims . Done OMR 882,000 None of these OMR 880,500 OMR 880,000