M05 Insurable interest cases Flashcards
1
Q
If no insurable interest contract void and illegal
A
Life Assurance Act 1774
2
Q
Insurance covers the insured_s interest in the house not the bricks and mortar
A
Castellain v. Preston (1883)
3
Q
No insurable interest in timber as owned by company _ insurable interest must be legally recognised.
A
Macaura v Northern Assurance Co. Ltd (1925)
4
Q
Insurable interest must be current not merely expectancy (Napoleon_s ships)
A
Lucena v Crauford (1806)
5
Q
On life insurance insurable interest is required at inception but not at the time of the claim.
A
Dalby v The India and London Life Insurance Company (1854)
6
Q
An insurance on the life of the policyholder_s mother was held to be illegal for lack of insurable interest.
A
Harse v. Pearl Life Insurance Co. (1904),
