UK Principles of Insurance - Insurable Interest

Insurance - Benefits to Society

There are five basic legal principles of insurance that must be seen to apply before the policy is valid - Insurable Interest, Indemnity, Umberrima Fides, Subrogation and Contribution.

Insurable Interest - This means that no person can be effected by a person on the life of another or against any other event, unless the person seekingthe insurance has such an interest in the subject matter that he stands to be deprived in some way by its ceasing to exist. In other words, the insured must benefit from the continied existance of what is insured and suffer by its loss.

The object of this principle is to prevent speculation and gabmbling on the fortunes and misfortunes of others.

In most cases, the insured myst have an insurable interest in a risk both at the time the policy is effected and at the time of the loss. Life assurance policy holders need only have an insurable interest at the time the policy was effected. In many marine policies, the insured need only have an insurable interest at the time of the loss, provided he had an expectation of such loss at the time of effecting the policy.

Currency Exchange Rates

Follow the prices of all world currencies and major precious metals. Review current and historic data, in both tabular and graphic format.

Buy Foreign Currency

Get the best deals direct from a FOREX specialist.

Stocks & Share Prices

Track the progress of the world's most dominant companies. We have up to the minute prices for over 2,000 leading business'.

Stock Market Indices

Keep an eye on Stock Exchanges from around the world. We track all the major indices from all major centers.

Meet John Paul

Meet John-Paul, Voltrex FX's leading FOREX specialist.

John-Paul says "anyone can save a lot of money by buying foreign currency online. It stands to reason – you save a lot of money because you cut out the middle-man".

Get started by taking John-Paul's "yes or no" test now – the rest is easy!

Is your bank or Bureau de Change giving you a wholesale exchange rates?
Is your currency provider taking a commission off your foreign exchange transaction?
Are you being charged transfer fees?

A FOREX specialist will give you a better rate and will not charge you fees. Learn more or ask John-Paul for a quote now – he will call you right back.

Quick Links

Other Information

We care about your experience

We have taken care code this page correctly, ensuring you have a good user experience. If you notice any errors on the page, we'd appreciate you letting us know