Commonwealth Consolidated Acts

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MARINE INSURANCE ACT 1909 - SECT 11

Insurable interest defined

             (1)  Subject to the provisions of this Act, every person has an insurable interest who is interested in a marine adventure.

             (2)  In particular, a person is interested in a marine adventure where he or she stands in any legal or equitable relation to the adventure, or to any insurable property at risk therein, in consequence of which he or she may benefit by the safety or due arrival of insurable property, or may be prejudiced by its loss, or by damage thereto, or by the detention thereof, or may incur liability in respect thereof.



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