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Insurance

Insurable interest

Insurance is a vital concept in the world of finance, with legal principles that govern its application. One such principle is the requirement for an insured individual to demonstrate a personal loss, which ultimately prevents insurance from being viewed as a form of gambling. This principle serves as a safeguard to ensure insurance remains a reliable means of protection rather than a risky bet.
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A comprehensive resource containing definitions and explanations of terms, concepts, and jargon used
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