Archive for August, 2023
Peril
In insurance, a Peril refers to a specific event or cause that may result in a loss or damage to the insured property or individual. It is a particular risk that the insurance policy is designed to cover. Insurance policies typically list the Perils that are covered and those that are excluded. What is a […]
Insurable Interest
Insurable interest refers to a legal and financial concept that determines whether a person or entity has a valid financial interest in the preservation or continued existence of a particular asset or individual. In the context of insurance, it is a crucial principle that helps ensure that insurance policies are based on genuine risk-sharing and […]