We use cookies to improve your website experience. To learn about our use of cookies and how you can
manage your
cookie settings, please see our
Cookie Policy.
By continuing to use the website, you consent to our use of cookies.
3.1 A traditional feature of a contract of insurance is that the insured has an “insurable interest” in the subject matter of the insurance. It is the potential effect upon the insured of the occurrence of a future risk that most obviously distinguishes a contract of insurance from a simple wager.1 A premium so called would be no more than a stake if the insured had no interest in the subject-matter of the contract other than the amount he had wagered and the risk of fraudulent claims would be increased.
The rest of this document is only available to i-law.com online subscribers.
If you are already a subscriber, click Log In button.