|
|
| gen. |
insurable interest (a person has such an interest in property or in the life of a person if damage or destruction of the property or death of the person would expose him to pecuniary loss or liability. CDL. For a contract of insurance to be valid, the insured must have an insurable interest in the subject matter of the insurance policy. For example, the insured would suffer loss if the event insured against occurred. This is what distinguishes an insurance contract from a wagering contract. PLG. A connection or relationship with a person or thing that is substantial enough to bring a real benefit or advantage to the person who wants to insure it, generally because the person or thing provides him or her with money or some other valuable thing, thus justifying the need or desire for insurance coverage. LDUSA Alexander Demidov); insured property (Alexander Demidov); interest insured (Person or property that is the subject matter of an insurance policy and in which the policyholder (insured) has insurable interest. BD Alexander Demidov); subject matter of insurance (Anything in respect of which there is a risk of loss from maritime perils may be the subject of marine insurance. It will be recalled that there is a distinction between the subject matter of insurance and the subject matter of the contract of insurance, that every lawful marine adventure may be the subject of a contract of marine insurance, and that a contract of marine insurance may be extended to cover risks other than maritime perils in a narrow sense. However, even though a marine insurance contract may include risks arising inland, the contract must be substantially one relating to a marine adventure. Therefore, the subject matter of the insurance must be capable of exposure to maritime perils. – АД); subject matter of insurance (Anything in respect of which there is a risk of loss from maritime perils may be the subject of marine insurance. It will be recalled that there is a distinction between the subject matter of insurance and the subject matter of the contract of insurance, that every lawful marine adventure may be the subject of a contract of marine insurance, and that a contract of marine insurance may be extended to cover risks other than maritime perils in a narrow sense. However, even though a marine insurance contract may include risks arising inland, the contract must be substantially one relating to a marine adventure. Therefore, the subject matter of the insurance must be capable of exposure to maritime perils. Alexander Demidov) |
| econ. |
object of insurance |
| insur. |
interest (пункт ковер-ноты, перестраховочного слипа alex); object insured; exposure unit (Ремедиос_П); exposure (Ремедиос_П); subject matter insured (Ремедиос_П) |
| law |
insurance object |
|
|
| gen. |
insurable interests (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 loss if an item was lost, destroyed, or damaged. If no financial loss would occur, no insurance can be arranged. For example, a person cannot insure a next-door neighbour's property. The limit of an insurable interest is the value of the item concerned, although there is no limit on the amount of life assurance a person can take out on his or her own life, or that of a spouse, because the financial effects of death cannot be accurately measured. Insurable interest was made a condition of all insurance by the Life Assurance Act (1774). Without an insurable interest, an insured person is unable to enforce an insurance contract (or life-assurance contract) as it is the insurable interest that distinguishes insurance from a bet or wager. OB&M Alexander Demidov) |
