Question

In property insurance Insurable interest must exist at the time of ________.
option

Inception
Loss
Inception and Loss both
None of the two

Answer 1

Explanation:

person or entity has an insurable interest in an item, event or action when the damage or loss of the object would cause a financial loss or other hardships. To have an insurable interest a person or entity would take out an insurance policy protecting the person, item or event in question. The insurance policy mitigates the risk of loss should something beset the asset.

Answer 2

answer

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