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Insurable interest means ________ interest.

  • Insurable interest means Financial interest.
  • Insurable interest means "an individual's or entity's personal and/or financial interest in the subject matter of an insurance policy."
  • In other words, the individual or entity purchasing an insurance policy must have a direct financial or personal interest in the property or person being insured.
  • This interest can be based on ownership, potential liability, or other factors that create a financial stake in the property or person being insured.
  • Insurable interest is an important concept in insurance because it ensures that the policyholder has a legitimate reason to protect the insured property or person, and it prevents individuals from taking out insurance policies for events in which they have no financial or personal interest.