- insurable interest
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insurable interest see interest 1
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- insurable interest
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n.A connection or relationship with a person or thing that is substantial enough to bring a real benefit or advantage to the person who wants to insure it, generally because the person or thing provides him or her with money or some other valuable thing, thus justifying the need or desire for insurance coverage.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- insurable interest
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a person has such an interest in property or in the life of a person if damage or destruction of the property or death of the person would expose him to pecuniary loss or liability. See insurance.
Collins dictionary of law. W. J. Stewart. 2001.
- insurable interest
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For a contract of insurance to be valid, the insured must have an insurable interest in the subject matter of the insurance policy. For example, the insured would suffer loss if the event insured against occurred. This is what distinguishes an insurance contract from a wagering contract.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- insurable interest
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A right, benefit, or advantage arising out of property that is of such nature that it may properly be indemnified.
Dictionary from West's Encyclopedia of American Law. 2005.
- insurable interest
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A right, benefit, or advantage arising out of property that is of such nature that it may properly be indemnified.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.