All but which of the following hold an insurable interest?
A) Shareholders in a closely held corporation to the extent of their interest in the corporation's property.
B) A lessee of property.
C) A seller with a purchase money security interest.
D) A buyer of a truck, whether or not the buyer had knowledge of the fact that the truck was stolen by the seller.

Question

Quizplus · Accepted Answer

A buyer of a stolen truck does not have an insurable interest because they do not have a legal right to the property. Insurable interest requires a lawful and substantial economic interest in the safety or preservation of the subject of the insurance.

All but Which of the Following Hold an Insurable Interest