Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Insurance Forums
What is insurable interest?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="Mataracy, post: 139552, member: 28733"] It is known that insurable risks must possess some characteristics i.e they must have pecuniary value, large number of similar exposures, pure or fundamental, loss must be accidental or fortuitous. It must not be against public policy, the premium must be reasonable and insurable interest must be present. Since we have seen the important of insurable interest to every contract of insurance, attempt must be made here to define it. I know must have asked question that " what is it that insured in a fire policy?". Not the bricks and materials used in building the house, but the interest of the insures is the subject matter of insurance. The subject -matter of insurance will be the physical structure like , house, ship,machinery, potential liability, motor vehicle etc. Therefore it is th3 financial interest of the owner in these properties that amouns to insurable interest. It is this financial interest that is known as the subject matter of the contract. Insurable interest can therefore be difined as the legal right to insure arising out of a financial relationship, recognized at law as existing between the insured and the subject matter of insurance. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Insurance Forums
What is insurable interest?
Top