Author: Tan Pui Yen

Home Tan Pui Yen
Post

Insurable Interest

Insurable Interest 1. Insurable Interest Generally English law recognised that contracts of insurance required the assured to have an interest in the subject matter insured prior to the Marine Insurance Act of 1745 wherein policies by way of wagers were prohibited on British shipping and its goods. Section 4 of the MIA:- (1)Every contract of marine insurance...