ABSTRACT
An assured has to have an insurable interest in the subject-matter insured before he would be allowed to claim under a policy. Aside from defining insurable interest, s 5 does not explain its relevance to the scheme of things. Thus, for a proper understanding of the subject, it is necessary to refer to the basis or foundation of the notion; and only by reading s 5 with ss 1 and 4 of the Act does the picture become clearer.
