The concept that the insured should not profit from an insurance transaction is called:

answer is principle of indemnity  

Explanation:

solution

profit from an insurance transaction is called the principle of indemnity

here indemnity means security or the protection against any financial liability so

Principle of indemnity is restoring the insured to the same financial condition as before the loss of it

it mean there is no profit also

so answer is principle of indemnity  

on december 1, 1774, the continental association was created to boycott all contact with british goods. by reversing the economic sanctions placed on the colonists, the delegates hoped britain would repeal its intolerable acts.

b hope this