LIST AND EXPLAIN THE CHARACTERISTICS OF INSURABLE INTEREST
Insurable interest refers to the financial or pecuniary interest that an individual or entity has in the subject matter of insurance. It is a fundamental principle in insurance that helps determine whether an individual or entity can legally obtain insurance…
INSURABLE INTEREST
Insurable interest exists when an insured person derives a financial benefit or other kinds of benefit from the continuous existence of the insured object. A person has insurable interest in something when loss of or damage to that thing would…
INSURABLE AND UNINSURABLE RISKS
MEANING OF INSURABLE RISK Insurable risks are those risks accepted for an amount by an insurance company followed with a promise to make financial compensation available to those that experience the losses. This type of risk is the one in…
Study Guide
