Doctrine of Approximation in Fire Insurance

The Doctrine of Approximation in fire insurance is a fundamental principle that plays a crucial role in determining the extent of loss or damage to insured property due to fire incidents. In essence, it recognises that achieving absolute precision in property valuation and loss assessment can be challenging. Therefore, this doctrine allows for a reasonable estimation of the value and loss, promoting fairness and equity in compensation for policyholders.

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fire insurance

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