The question (15 marks)
What is insurable interest? When must it exist in life, marine and fire insurance, and what is the consequence of its absence? Discuss with cases. (15 marks)
Syllabus head 1.4; built from the Module 1 chapter and the insurable interest case briefs.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 1 · Introduction, Risk and the General Principles of Law of Insurance.
Authorities you will need
- Lucena v. Craufurd
- Wilson v. Jones
- Macaura v. Northern Assurance Co
- Dalby v. India and London Life Assurance Co (1854)
- Griffith v. Fleming
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.