Which of the following is a provision in the Standard Fire Policy?

The Standard Fire Policy, which was widely used in the United States, includes a provision for subrogation. Subrogation is a legal principle that allows an insurance company to pursue a third party that caused an insurance loss to the insured. When an insurer pays a claim on behalf of the insured, it assumes the right to recover the amount of the claim from those responsible for the damage. This helps to prevent the insured from receiving a double recovery for the same loss.

By including a subrogation provision, the Standard Fire Policy ensures that insurers can recover costs from responsible parties, thereby keeping premiums lower for policyholders, as the risk is spread and managed more effectively. This concept is a fundamental aspect of property and casualty insurance, promoting fairness and accountability in settling claims.

The other options listed do not represent typical provisions found in Standard Fire Policies, making them less relevant in this context.