_______ is a term referencing the concept that a sufficient interest must exist on the part of an insured in order to take out a

Question

4 years ago

8

_______ is a term referencing the concept that a sufficient interest must exist on the part of an insured in order to take out a

policy of insurance. Multiple Choice Insurable interest Pecuniary interest Financial concern Financial effect Profit impact

Business

1 answer:

hjlf · Answer 1 · 2022-01-21T08:56:16+03:00

Answer:

Insurable interest

Explanation:

The insurance interest is the interest of the insurer while taking the policy so that the risk of the loss is reduced also it is an important requirement that makes the firm or the event to be legal, valid, enforceable, and protected against any harmful acts done intentionally

Therefore according to the given situation, the concept in which enough interest must exist on the part of the insurer while taking the policy is known as the insurer interest

Hence, the first option is correct