单词 | insurable interest |
释义 | insurable interest The legal right to enter into an insurance contract. A person is said to have an insurable interest if the event insured against could cause that person a financial loss. For example, anyone may insure their own property as they would incur a loss if an item was lost, destroyed, or damaged. If no financial loss would occur, no insurance can be arranged. For example, a person cannot insure a next-door neighbour's property. The limit of an insurable interest is the value of the item concerned, although there is no limit on the amount of life assurance a person can take out, because the financial effects of death cannot be accurately measured. |
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