insurable interest


insurable interest
noun
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
Hypernyms: ↑interest, ↑stake

* * *

noun
: an interest (as based on a blood tie or likelihood of financial injury) that is judged to give an insurance applicant a legal right to enforce the insurance contract against the objection that it is a wagering contract contrary to public policy

Useful english dictionary. 2012.

Look at other dictionaries:

  • insurable interest — see interest 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. insurable interest …   Law dictionary

  • Insurable interest — A person has an insurable interest in something when loss or damage to it would cause that person to suffer a financial loss or certain other kinds of losses. For example, if the house you own is damaged by fire, the value of your house has been… …   Wikipedia

  • insurable interest — The legal right to enter into an insurance contract. A person is said to have an insurable interest if the event insured against could cause that person a financial loss. For example, anyone may insure their own property as they would incur a… …   Big dictionary of business and management

  • insurable interest — Such a real and substantial interest in specific property as will prevent a contract to indemnify the person interested against its loss from being a mere wager policy. Such an interest as will make the loss of the property of pecuniary damage to …   Black's law dictionary

  • insurable interest — Such a real and substantial interest in specific property as will prevent a contract to indemnify the person interested against its loss from being a mere wager policy. Such an interest as will make the loss of the property of pecuniary damage to …   Black's law dictionary

  • insurable interest — An insurance term referring to the relationship between a policy s insured person or property and the potential beneficiary. The beneficiary must have an insurable interest in the insured person or property to receive payment of the policy if the …   Financial and business terms

  • insurable interest — draudimo interesas statusas Aprobuotas sritis draudimas apibrėžtis Nuostoliai, kurių gali patirti draudėjas, apdraustasis arba naudos gavėjas įvykus draudžiamajam įvykiui. atitikmenys: angl. insurable interest šaltinis Lietuvos Respublikos… …   Lithuanian dictionary (lietuvių žodynas)

  • insurable interest — An essential of a valid contract of insurance, being, in general, that which takes a contract out of the class of wagering policies; best defined in reference to the particular risk or thing insured. 29 Am J Rev ed Ins § 432. See interest or no… …   Ballentine's law dictionary

  • insurable interest — /ɪnˌʃυərəb(ə)l ɪntrəst/ noun the value of the thing insured which is attributed to the person who is taking out the insurance …   Dictionary of banking and finance

  • insurable interest in property — An interest in property to the extent that the owner of the interest derives a benefit from the existence of the property and will suffer a loss from its destruction. 29 Am J Rev ed Ins § 438. Any interest in property or any relation thereto or… …   Ballentine's law dictionary


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