Economics · Insurance
What best describes the principle of insurable interest?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Can exist without financial loss/relationship.
- 2Applies only to life insurance.
- 3Policyholder must have financial interest—loss/damage causes financial loss.✓
- 4Sentimental attachment to the subject matter.
Correct answer
Policyholder must have financial interest—loss/damage causes financial loss.
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