What is sum insured/assured in general insurance?

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An insurance company insures marine cargo risk for a total sum insured Euro 150,...
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Mamoun elbaghir abdalla mhamad Eltayeb
08-January-2015

Accounting Financial Accounting Insurance General Insurance

Question added by mukkur srinivasan varadhan , Chartered Accountant , Chartered Accountant in practice
Date Posted: 2014/02/10

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1 Answers

Mamoun elbaghir abdalla mhamad Eltayeb

by Mamoun elbaghir abdalla mhamad Eltayeb , Insurance agent / Producer , Albaraka Insurance Company

Sum insured is the total and maximum amount that the insurance company is obliged to pay when losses occurs the sum insured also reflect the real and actual amount of the interest insured

Thanking You

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