An Insurable Interest Can Best Be Described As

An insurable interest can best be described as:

A) the insured having paid the premiums of an insurance policy as called for in the policy
B) the insurance covering an item that,if damaged or destroyed,would cause a loss for the party if it were damaged or destroyed in the absence of insurance
C) the item in question being fully covered under a valid insurance policy
D) the item in question being fully capable of identification at the time of a loss,even if it could not have been identified at the time that the insurance policy was taken out