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CASUALTY INSURANCE, Examples, Examples - Coggle Diagram
CASUALTY INSURANCE
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INSURABLE INTEREST
For casualty insurance for the persons and/or the property of the insured: insured has insurable interest on his own life and on his own property
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For third-party liability: the insured has insurable interest in the safety of persons who may maintain suits against him in case of their injury or destruction.
Right to sue: Third person has right to sue against the insurer upon the occurrence of the injury or even upon which the liability depends
When payable?
When the liability of the insured to the injured third person attached regardless of actual loss at the time.
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