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iv W01/March 2017 Award in General Insurance
Chapter 4 self-test answers
1. Financial interest in the item or event insured.
2. The legal right to insure arising out of a financial relationship, recognised at law, between the
policyholder and the subject-matter of insurance.
3. At inception of the policy and at the time of the loss.
4. By reinsurance.
5. Three main ways in which insurable interest may arise are at common law, under contract and under
statute. Reference copy for CII Face to Face Training
