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In which type of insurance must insurable interest exist both at the time of effecting the policy and at the time of claim?
  • a)
    Marine insurance
  • b)
    Fire insurance
  • c)
    Life insurance
  • d)
    Accident insurance
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
In which type of insurance must insurable interest exist both at the t...
Insurable interest must exist both at the time of effecting the policy and at the time of claim for fire insurance. In other words, the insured must have a valid insurable interest when purchasing the policy and when making a claim.
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In which type of insurance must insurable interest exist both at the time of effecting the policy and at the time of claim?a)Marine insuranceb)Fire insurancec)Life insuranced)Accident insuranceCorrect answer is option 'B'. Can you explain this answer?
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