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No. And, in fact, there is a concept called an “insurable interest” that is intended to prevent this kind of thing. If I buy an insurance contract that will p
by amluto 2mo ago
No.
And, in fact, there is a concept called an “insurable interest” that is intended to prevent this kind of thing.
If I buy an insurance contract that will pay me if your house burns down and then I burn down your house, then I’ve obviously committed arson, but I have also likely purchased that insurance contract illegally. And I don’t even need to burn down your house for that contract to be illegal.
(IANAL)
- FireBeyond 2mo agoThere is a (possibly apocryphal) story of a man who bought an amazingly expensive Cuban cigar, insured it as it sat in his home, then smoked it... and filed an insurance claim for its loss. After back and forth with attorneys, the insurer paid the claim. And then sued him for their loss.
- amluto 2mo agoBut he surely had an insurable interest in that cigar!