A bailee has an insurable interest in the property bailed to the extent of possible loss.

Name: A bailee has an insurable interest in the property bailed to the extent of possible loss.
Brand: Quizplus
Rating: 4.8 (33 reviews)

Question

Quizplus · Accepted Answer

A bailee has an insurable interest in the bailed property because they could be held financially responsible for damage or loss to the property while it is in their possession, thus they have a potential for loss that can be protected through insurance.

A Bailee Has an Insurable Interest in the Property Bailed