In order for individuals to benefit from insurance they must have an insurable interest. Insurable interest is:
A) legitimate ownership of the property or person insured
B) legitimate interest in preserving the life or property of the insured
C) legitimate proof of continuous coverage
D) legitimate ownership of the policy and continuous coverage.
Correct Answer:
Verified
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Q16: Insurers use the law of large numbers
Q17: Studies have indicated that people who drive
Q18: The purpose of insurance to the insured
Q19: The cause of potential loss is referred
Q21: What are the accounting measures of an
Q22: In terms of quality underwriting, what are
Q23: If the insured wants to break his
Q24: What helps to lower the premium rates?
A)Credit
Q25: All of the following will impact premium
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