Current Affairs · Insurance Principles
Given below are two statements: Statement I: In the case of Life Insurance, the insurable interest must be present in the person insured at the time when the event happened. Statement II: In the case of Fire Insurance, the insurable interest must be present in the object insured both at the time when the policy is taken and when the event has happened. In light of the above statements, choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Statement I is false but Statement II is true✓
- 2Statement I is true but Statement II is false
- 3Both Statement I and Statement II are false
- 4Both Statement I and Statement II are true
Correct answer
Statement I is false but Statement II is true
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