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What does insurable interest mean in the context of insurance?
  • a)
    The interest in insuring a valuable item
  • b)
    The interest in making a profit from insurance policies
  • c)
    The legal financial interest of a person in the subject matter of insurance
  • d)
    The interest in purchasing insurance for any reason
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What does insurable interest mean in the context of insurance?a)The in...
Insurable interest, in the context of insurance, refers to the legal financial interest of a person in the subject matter of insurance. It means that the person stands to benefit from the safety of the subject matter and may incur a loss or liability in the event of its loss, damage, or destruction.
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What does insurable interest mean in the context of insurance?a)The interest in insuring a valuable itemb)The interest in making a profit from insurance policiesc)The legal financial interest of a person in the subject matter of insuranced)The interest in purchasing insurance for any reasonCorrect answer is option 'C'. Can you explain this answer?
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What does insurable interest mean in the context of insurance?a)The interest in insuring a valuable itemb)The interest in making a profit from insurance policiesc)The legal financial interest of a person in the subject matter of insuranced)The interest in purchasing insurance for any reasonCorrect answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What does insurable interest mean in the context of insurance?a)The interest in insuring a valuable itemb)The interest in making a profit from insurance policiesc)The legal financial interest of a person in the subject matter of insuranced)The interest in purchasing insurance for any reasonCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What does insurable interest mean in the context of insurance?a)The interest in insuring a valuable itemb)The interest in making a profit from insurance policiesc)The legal financial interest of a person in the subject matter of insuranced)The interest in purchasing insurance for any reasonCorrect answer is option 'C'. Can you explain this answer?.
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