Q5.
1
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One of the principles underlying the requirement of insurable interest was to guard against:
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Q5.
2
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The fifth principle of general insurance insurable interest has been done away with in New Zealand, except as provided in the Marine Insurance Act 1908 (NZ).
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Q5.
3
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Insurable interest, in simplest terms, requires that in order to insure something, an Insured must own something:
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Q5.
4
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The principle of insurable interest has its origin in:
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Q5.
5
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The rules covering insurable interest are much stricter for:
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Q5.
6
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Is it possible for a purchaser to be deemed an Insured under the vendor’s contract of insurance.
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Q5.
7
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Under common law, which of the following is not a criterion for insurable interest to be met?
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Q5.
8
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Under the Insurance Contracts Act 1984 (Cth) legal or equitable interest is not required at the time of loss.
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Q5.
9
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Section 49 of the Insurance Contracts Act 1984 (Cth), rather than affecting a named Insured’s insurable interest, statutorily includes entities unknown to the insurer, as ‘Insureds’, subject of course to strict notice requirements.
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Q5.
10
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The Insured must contract directly with the insurance company in order for it to acquire rights under the policy.
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