Which purpose of the following is to hold the negligent person responsible for the loss and prevent the insured from collecting twice for the same loss?

The correct answer is A. Subrogation.

Subrogation is the legal right of an insurer to stand in the shoes of its insured and pursue any legal remedies that the insured may have against a third party who is responsible for the loss. This allows the insurer to recover the amount it has paid out to the insured, and it also prevents the insured from collecting twice for the same loss.

Indemnity is the principle that an insurer should only pay the insured an amount that will put them back in the same financial position they were in before the loss occurred. This means that the insurer should not profit from the loss, and it also means that the insured should not be left out of pocket.

Insurable interest is the requirement that an insured must have a financial interest in the property or person that is being insured. This is to prevent people from insuring things that they do not have a financial interest in, such as the lives of strangers.

Contribution is the principle that when multiple parties are liable for a loss, each party should contribute to the damages in proportion to their degree of fault. This prevents one party from being held responsible for the entire loss, and it also ensures that each party pays their fair share.