Arizona Revised Statutes § 20-1105 Insurable Interest With Respect To Property Insurance

20-1105. Insurable interest with respect to property insurance

A. No insurance contract on property or of any interest therein or arising therefrom shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured.

B. " Insurable interest" as used in this section means any actual, lawful and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction or pecuniary damage or impairment.

C. The measure of an insurable interest in property is the extent to which the insured might be damaged by loss, injury or impairment thereof.

Section: Previous  20-1099  20-1099.01  20-1099.02  20-1101  20-1102  20-1103  20-1104  20-1105  20-1106  20-1107  20-1108  20-1109  20-1110  20-1110.01  20-1111  Next

Last modified: October 13, 2016