Definitions for insurable interest
in·sur·able in·ter·est

Princeton's WordNetRate this definition:0.0 / 0 votes

1. insurable interestnoun

   an interest in a person or thing that will support the issuance of an insurance policy; an interest in the survival of the insured or in the preservation of the thing that is insured

WikipediaRate this definition:0.0 / 0 votes

1. Insurable interest

   Insurable interest exists when an insured person derives a financial or other kind of benefit from the continuous existence, without repairment or damage, of the insured object (or in the case of a person, their continued survival). A person has an insurable interest in something when loss of or damage to that thing would cause the person to suffer a financial or other kind of loss. Normally, insurable interest is established by ownership, possession, or direct relationship. For example, people have insurable interests in their own homes and vehicles, but not in their neighbors' homes and vehicles, and almost certainly not those of strangers. The "factual expectancy test" and "legal interest test" are the two major concepts of insurable interest.

ChatGPTRate this definition:0.0 / 0 votes

1. insurable interest

   Insurable interest refers to a person or entity's financial or legal stake in an asset, such as a property, person or event, that is subject to potential financial loss or damage. It is a basic requirement for issuing an insurance policy, meaning the policyholder must stand to suffer financially and directly if the insured object, person or event incurs loss or harm. The principle is to prevent individuals from acquiring insurance for purely speculative or malicious purposes.

WikidataRate this definition:0.0 / 0 votes

1. Insurable interest

   Insurable interest exists when an insured person derives a financial or other kind of benefit from the continuous existence of the insured object. A person has an insurable interest in something when loss-of or damage-to that thing would cause the person to suffer a financial loss or other kind of loss. Typically, insurable interest is established by ownership, possession, or direct relationship. For example, people have insurable interests in their own homes and vehicles, but not in their neighbors' homes and vehicles, and certainly not those of strangers. The "factual expectancy test" and "legal interest test" are the two major concepts of insurable interest.

Matched Categories

1. • Interest

How to pronounce insurable interest?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say insurable interest in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of insurable interest in Chaldean Numerology is: 3

2. Pythagorean Numerology

   The numerical value of insurable interest in Pythagorean Numerology is: 4

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=insurable interest
2. ^ Wikipedia
   https://en.wikipedia.org/wiki/Insurable_Interest
3. ^ ChatGPT
   https://chat.openai.com
4. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=insurable interest