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

A)To have an insurable interest in property or life,a person must be subject to
economic loss if there is damage or harm to the person or property.Only individuals who have insurable interests can enter into a valid insurance agreement.
B)To have an insurable interest in property or life,a person must be subject to economic loss if there is damage or harm to the person or property.Only individuals who have insurable interests can enter into a valid insurance agreement.

Is a Term Referencing the Concept That a Sufficient Interest