Question

What do you mean by insurable interest Class 11?

My doubt stems from Insurance subject

I have been asked this question in semester exam.

Other related questions to my question are:-

What do you mean by insurable interest Class 11?

What do you mean by insurable interest Discuss insurable interest in different types of insurance?

What is meant by an insurable interest and how does it apply to the various types of insurance discussed in the chapter?

What do you mean by principle of indemnity?

Answer 1

Right answer is: Insurable interest is a type of investment that protects anything subject to a financial loss. A person or entity has an insurable interest in an item, event or action when the damage or loss of the object would cause a financial loss or other hardships.

The title of my answer can be Insurable Interest Definition

My answer's reference is Investopedia