Honoria recently tried to buy first party insurance with respect to a diamond ring. The insurance company refused to sell a policy to her on the basis that she did not have an insurable interest. Explain the insurance company's decision in more detail and identify the policy reason why a person who does not have an insurable interest cannot buy a insurance policy.

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The Answer of Honoria recently tried to buy first party insurance with respect to a diamond ring. The insurance company refused to sell a policy to her on the basis that she did not have an insurable interest. Explain the insurance company's decision in more detail and identify the policy reason why a person who does not have an insurable interest cannot buy a insurance policy.

Honoria Recently Tried to Buy First Party Insurance with Respect