insurable interest in liability

insurable interest in liability
The interest that the insured has in the possibility of death of or injury to third persons, or of the destruction of or injury to the property of third persons, which may be the basis of a liability established against him or, at least, of suits brought against him. Anno: 77 ALR j 1256.

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 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 — 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

  • assignment of insurable interest — Assigning to another party the rights and obligations of the insurable interest in an item of property, life, or a legal liability to be insured. This enables the person to whom the interest is assigned to arrange insurance cover, which would not …   Big dictionary of business and management

  • interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim …   Law dictionary

  • interest — The most general term that can be employed to denote a right, claim, title, or legal share in something. In its application to real estate or things real, it is frequently used in connection with the terms estate, right, and title. More… …   Black's law dictionary

  • interest — The most general term that can be employed to denote a right, claim, title, or legal share in something. In its application to real estate or things real, it is frequently used in connection with the terms estate, right, and title. More… …   Black's law dictionary

  • insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …   Universalium

  • Insurance — This article is about risk management. For Insurance (blackjack), see Blackjack. For Insurance run (baseball), see Insurance run. In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a… …   Wikipedia

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