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MARINE INSURANCE ACT 1906 - SECT 5

Insurable interest defined.

5.(1) Subject to the provisions of this Act, every person has an insurable
interest who is interested in a marine adventure.

(2) In particular a person is interested in a marine adventure where he stands
in any legal or equitable relation to the adventure or to any
insurable property at risk therein, in consequence of which he may benefit by
the safety or due arrival of insurable property, or may be prejudiced by its
loss, or by damage thereto, or by the detention thereof, or may incur
liability in respect thereof.


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© 1906 Crown Copyright

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