Two professors are there. In the story, there are 2 colleagues A and B. I want you to give A and B names as you wish. A takes a fire insurance policy for his house on 1 Jan 2024. On 3 March 2024 he sells the house to B , but because of his busy schedule he could not transfer the insurance policy in B's name. On 17 July 2024 fire broke out and the house is destroyed. B asks A to go to the Insurance company for Claim. B goes to the insurance company for claim but claim is rejected. Reason is that, during the accident, A did not have insurable interest in the subject matter and B cannot claim since the policy is not in B's name. Therefore, insurance interest plays an important role in the contact of insurance

4 months ago