Asked by Kimberly Zappalla on Mar 10, 2024

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Insurable interest means that the insured must have a personal stake or interest in whatever is being insured.

Insurable Interest

A vested interest by the policyholder in an insurance policy's subject matter, ensuring they suffer a direct financial loss if the insured event occurs.

  • Recognize the importance and limitations of insurable interest within insurance law.
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RA
Rachel Auman

Mar 10, 2024

Final Answer :
True
Explanation :
Insurable interest is a fundamental principle of insurance that requires the policyholder to have a personal stake or interest in the property or life being insured, ensuring they suffer a direct loss if the insured event occurs.