insurable interest

insurable interest definition - business

insurable interest

Having a financial interest in an individual or a thing. To have an insurable interest, an individual must be in a position to suffer an assessable financial loss if a person should die or a thing is damaged, destroyed, or lost.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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