The Insurance Register, 1903: Containing a Record of the Yearly Progress and the Present Financial Position of British Insurance Associations; ... of Life Assurance in 1902 (Classic Reprint) - Hardcover

Inhaltsangabe

Excerpt from The Insurance Register, 1903<br/><br/>One other case may be mentioned, more particularly since it formed the basis of a question set in one of the papers of the recent examinations of the Institute of Actuaries. This was an action brought against the Scottish Imperial Life Office by an employer who had effected a Policy for 15 2 50 on the life of one of his workmen. The Office disputed the claim on the ground of want of insurable interest on the part of the claimant. The Court of Session at Edinburgh decided in favour of the Office, since it appeared that the workman was liable to be discharged at one week's notice, it being laid down that the utmost limit of insurable interest in this case was the value to the employer of one week's employment, and generally that the value of such an interest at the date of the Policy must be calculated with some reference to the relation between the parties.

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