Answer the Following: _a. What Is an Insurable Interest? at What Point

Answer the following:
_a. What is an insurable interest? At what point in a sales transaction does the buyer get an insurable interest?
_b. Is the buyer the only one who has an insurable interest in the goods? Is it possible for both the buyer and the seller to simultaneously hold an insurable interest? Explain.
_{An insurable interest is a property interest that allows a party to purchase}