that the policy will lapse on transfer as there is no insurable interest of the assured on such transfer. (Vide Culab Bai Damodar Tapse ... policy comes to an end as the transferor loses his insurable interest. Most of these cases followed the three judgments of Courts of England including
holders in matters concerning assigning of policy, nomination by policy-holders, insurable interest, settlement of insurance claim, surrender value of policy, and other terms ... from, undertaking inspection of, conducting enquiries and investigations including audit of the insurers, intermediaries, insurance intermediaries and other organisations connected with the insurance business
loaded on to the ship leaving the exporter with no insurable
interest in the consignment.
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5. The Commission received three affidavits as evidence ... person has an insurable interest who is
interested in a marine adventure.
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(2) In particular a person is interested in a
marine adventure where
Section 7 in The Marine Insurance Act, 1963
7. Insurable interest defined .-(1) Subject to the provisions of this ... every person has an insurable interest who is interested in a marine adventure.
(2) In particular a person is interested in a marine adventure where
adventure may be the subject of a contract of marine insurance.
INSURABLE INTEREST
found that the plaintiff had an interest in the
property, the said interest would definitely be insurable and the
defendant has also not shown ... interest of the assured in the subject-matter of
insurance, not the legal interest only, but the beneficial
interest.
Thus it follow that insurable interest
interest in the life insured, which is the essence of a valid contract of a life insurance policy. Insurable interest, it is submitted ... long as the transferees interest exists, she has the whole interest and when the defesance clause comes into operation, the interest of the person
insurer, located outside
India. According to the learned DRP with prior permission from
the government, the foreign insurer can also insure properties in
India ... Adidas AG to insure goods that it did
not own directly. This was because the German company had no
insurable interest in those goods under
such an
interest; or
(b) where the policy is made "interest or no
interest", or "without further proof of interest than
the policy ... insurable property at risk therein, in
consequence of which, he may benefit by due arrival of insurable
property and may incur insurable interest
interest on that sum by virtue of any enactment
relating to interest on judgments.
(2) No sum shall be payable by an insurer under ... then dealt with the issue as to what would be the
insurable interest of the owner. Elaborating on this aspect, the learned
Judge observed
