________ is a term referencing the concept that a sufficient interest must exist on the part of an insured in order to take out a policy of insurance.

Question

Quizplus · Accepted Answer

Insurable interest is the legal requirement that an individual must have a sufficient stake in the damage or loss of the property or life insured. This principle prevents people from taking out insurance policies on random properties or lives in which they have no actual financial interest, thereby reducing the potential for insurance fraud.

________ Is a Term Referencing the Concept That a Sufficient