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Love and marriage
Asked by: confuzzed
from Durban, South Africa
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Mr and Mrs Match are married out of community of property. Mrs Match owns a
small shop which sells fireworks and cigarette lighters. Mr Match insures the
contents of the shop against fire damage. Mr Match takes out the insurance
contract with Gullible Insurance Company (“GIC”) in his own name. There is a
fire and the entire stock of fireworks held in the shop is destroyed. GIC refuses to
pay out under the insurance policy, arguing that Mr Match did not have an
insurable interest in his wife’s property.
Advise Mr Match of his chances of success if he sues the Gullible Insurance Company (“GIC”) on the contract of insurance.
small shop which sells fireworks and cigarette lighters. Mr Match insures the
contents of the shop against fire damage. Mr Match takes out the insurance
contract with Gullible Insurance Company (“GIC”) in his own name. There is a
fire and the entire stock of fireworks held in the shop is destroyed. GIC refuses to
pay out under the insurance policy, arguing that Mr Match did not have an
insurable interest in his wife’s property.
Advise Mr Match of his chances of success if he sues the Gullible Insurance Company (“GIC”) on the contract of insurance.
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In looking at the definition of "marriage out of the community of Property" it doesn't look like Mr. Match has a chance. Mr. & Mrs. Match should have thought about the division of assets decision before starting up "joint ventures". As my boss use to say "you are either in, or you are out". If you make a decision to be divided... then you are divided. The Match family chose a DIVIDED asset way of life. So it is.
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Answer Date: 06:53pm 10/03/08
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Mr. Match you have an excellent if not open and shut case. It doesn't matter whether you were married or not. Anyone could have taken out an insurance policy on the contents of the shop. Mr. Match had an insurable interest for the simple fact that the policy was in his name and paid by him. The fact that they were married makes it even better.
Since there is no insurable interest requirement for liability coverage, there is no prohibition against any person being named as an insured under a...
Since there is no insurable interest requirement for liability coverage, there is no prohibition against any person being named as an insured under a...
Answer Date: 07:22pm 10/03/08
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I am not a lawyer and good for me for that. I have had some college law and certainly have had dealings with insurance companies.
If this was the United States, the question of insurable interest would have been settled at the time of purchasing the insurance contract. Mr. Match has an interest in the success of the business and once the contract is accepted he has an insurable interest.
All 50 states have a powerful enough insurance commissioner to direct the ...
If this was the United States, the question of insurable interest would have been settled at the time of purchasing the insurance contract. Mr. Match has an interest in the success of the business and once the contract is accepted he has an insurable interest.
All 50 states have a powerful enough insurance commissioner to direct the ...
Answer Date: 03:14am 10/04/08
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