In which of the following cases does insurable interest not exist?
In which of the following cases does insurable interest not exist? Correct Answer Tenant
This principle is an important element within a contract of insurance. It means that the insured must have an interest in the subject matter of the insurance. In a practical sense, this means that the insured must suffer a financial or economic loss. This also means that the interest in the property must be a real one and not a contrived one.A tenant is a person who occupies land or property rented from a landlord. So, 'insurable interest' does not lie with the person.