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Business Services-1 — OCM STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceOCMBusiness Services-11 Mark
Question
Give the meaning of general Insurance.
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Answer

The asset of which physical value is assessed and under prescribed causes damage occurs. The Compensation of which is paid within fixed amount the insurance company as per foxed calculation pays Compensation. This contract is called ordinary insurance.

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