What Are the Different Types of Insurance Benefits?

Insurable interest, also known as "insurance interest". Refers to the interests of the insured or the insured against the subject matter of the insurance. If the insured object is safe, the insured will continue to enjoy the original benefits; if the insured object is unsafe or damaged, the insured will be harmed. For example, the owner of the goods in the sea will benefit from the safety of the goods or their arrival on time; if the goods are damaged, lost or held in transit, they will be harmed. The owner of the goods therefore has an insurance interest in the goods. Having an insurance interest is one of the important principles for the establishment of an insurance contract. Insurance benefits can be either real or expected. Applying the principle of insurance benefits can prevent insurance from turning into gambling, and can prevent the occurrence of moral hazard. ^[1]

Insurable interest means that the insured or the insured may suffer financial loss due to the damage (or loss) of the subject-matter insured or the occurrence of liability;

The insurable interest principle means that only the insured with the insurable interest of the subject

The concept of insurable interest first appeared in the British Maritime Insurance Act 1746, and scholars at the time

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Insurable interest is a core concept in the insurance system, but the concept of insurable interest is not at the same time as the insurance system

Insurable property and insurable interest Insurable property refers to the property that can be accepted by the insurer in the terms of the insurance policy. Any property that is owned by, or held for, or shared with, the insured is responsible for the insured can be regarded as insurable property. However, due to the wide variety and nature of property and the nature of the various insurance businesses, not all property insurers can cover it. Some precious items, property that cannot be valued (such as currency, documents, calligraphy and painting, etc.) or property in an emergency and dangerous state are not insurable property unless specifically agreed. The scope of insurable property is specified in general insurance policies. Insurable benefits are the economic benefits that the insured or the insured have on the subject matter of the insurance because they have various interests. The insured or the insured must have insurable interests in order to apply for the insurance subject, otherwise the insurance contract cannot be established.