Insurable Interest Means That the Insured Must Have a Personal

question 32

True/False

Insurable interest means that the insured must have a personal stake or interest in whatever is being insured.

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Definitions:

Marginal Benefit

Benefit from the consumption of one additional unit of a good.

Incentivized

Encouraged or motivated through the offering of incentives or rewards to perform a particular action or behavior.

Recession Of 2008

A severe global economic downturn triggered by the collapse of the housing market and financial institutions, leading to widespread job losses and economic instability.

Housing Bubble

A situation in the real estate market where house prices are driven to levels way beyond their true values due to excessive demand, speculation, or unsustainable economic factors, eventually leading to a sharp decline.