Advertisements
Advertisements
Question
Is insurable interest necessary in all insurance contracts?
Answer in Brief
Advertisements
Solution
Yes, insurable interest is necessary in all insurance contracts. Insurable interest is an essential element in every insurance contract. In the absence of insurable interest, a contract of insurance becomes a wagering contract, which is null and void and unenforceable at law.
shaalaa.com
Is there an error in this question or solution?
