insurable interest

insurable interest
An essential of a valid contract of insurance, being, in general, that which takes a contract out of the class of wagering policies; best defined in reference to the particular risk or thing insured. 29 Am J Rev ed Ins § 432. See interest or no interest clause; wager policy.

Ballentine's law dictionary. . 1998.

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Look at other dictionaries:

  • insurable interest — see interest 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. insurable interest …   Law dictionary

  • Insurable interest — A person has an insurable interest in something when loss or damage to it would cause that person to suffer a financial loss or certain other kinds of losses. For example, if the house you own is damaged by fire, the value of your house has been… …   Wikipedia

  • insurable interest — The legal right to enter into an insurance contract. A person is said to have an insurable interest if the event insured against could cause that person a financial loss. For example, anyone may insure their own property as they would incur a… …   Big dictionary of business and management

  • insurable interest — Such a real and substantial interest in specific property as will prevent a contract to indemnify the person interested against its loss from being a mere wager policy. Such an interest as will make the loss of the property of pecuniary damage to …   Black's law dictionary

  • insurable interest — Such a real and substantial interest in specific property as will prevent a contract to indemnify the person interested against its loss from being a mere wager policy. Such an interest as will make the loss of the property of pecuniary damage to …   Black's law dictionary

  • insurable interest — An insurance term referring to the relationship between a policy s insured person or property and the potential beneficiary. The beneficiary must have an insurable interest in the insured person or property to receive payment of the policy if the …   Financial and business terms

  • insurable interest — draudimo interesas statusas Aprobuotas sritis draudimas apibrėžtis Nuostoliai, kurių gali patirti draudėjas, apdraustasis arba naudos gavėjas įvykus draudžiamajam įvykiui. atitikmenys: angl. insurable interest šaltinis Lietuvos Respublikos… …   Lithuanian dictionary (lietuvių žodynas)

  • insurable interest in property — An interest in property to the extent that the owner of the interest derives a benefit from the existence of the property and will suffer a loss from its destruction. 29 Am J Rev ed Ins § 438. Any interest in property or any relation thereto or… …   Ballentine's law dictionary

  • insurable interest in life — One s interest in his own life. Any reasonable expectation of benefit or advantage from the continued life of another person, which advantage or benefit need not be capable of pecuniary estimation, but may be predicated upon any relation which is …   Ballentine's law dictionary

  • insurable interest — noun an interest in a person or thing that will support the issuance of an insurance policy; an interest in the survival of the insured or in the preservation of the thing that is insured • Hypernyms: ↑interest, ↑stake * * * noun : an interest… …   Useful english dictionary

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