An insurance principle that prevents a person from insuring what he does not stand to lose financially if the insured risk occurs is
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Correct Answer: Option C
Explanation:
Insurable interest means that the person taking out an insurance policy must have a legitimate financial interest in the subject matter insured. The person must stand to suffer a loss if the insured event occurs.
Insurable interest means that the person taking out an insurance policy must have a legitimate financial interest in the subject matter insured. The person must stand to suffer a loss if the insured event occurs.