A purchaser of a cargo was held to have no insurable interest in the cargo itself until the risk had passed to him on completion of loading. The only possible insurable interest was on the profits from sale of the cargo but not on the cargo itself which alone was the subject matter of the relevant insurance.
(1875) LR 10 CP 609 (Exch Ch)
Cited – Feasey v Sun Life Assurance Company of Canada and Another: Steamship Mutual Underwriting Association (Bermuda) Ltd v Feasey ComC 17-May-2002
The fact that there was more than one insurance policy in place for the same interest would not preclude a claim under one of them. A mutual underwriting group insured members against personal injury and so forth through ‘lineslip’ policies. The . .
Cited – Feasey v Sun Life Assurance Company of Canada and Another: Steamship Mutual Underwriting Association (Bermuda) Ltd v Feasey CA 26-Jun-2003
A policy providing a fixed level of benefit, calculated according to the degree of injury could not be avoided under the 1744 Act on the basis that the insured had no insurable interest. The insurance company said the company had no insurable . .
Lists of cited by and citing cases may be incomplete.
Updated: 29 April 2022; Ref: scu.184484