Multiple choice

According to common law, when should insurable interest be present in a general insurance contract?

  1. At the time of taking policy

  2. At the time of claim

  3. Both 1 and 2

  4. None of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Insurable interest should be present at both the times, i.e. at the time of taking policy as well as at the time of claim.

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