As I write this post, I’m on a flight to Las Vegas, Nevada, for a Merlin Law Group seminar. I’ve been to Nevada before on several occasions, but this will be the first time to Las Vegas! It seems only fitting that in this episode we’re traveling to Nevada, the Silver State, to define insurable interest.
Nevada Statute 687B.060 Lays it all out for us:
- No contract of insurance of property or of any interest in property or arising from property shall be enforceable as to the insurance except for the benefit of persons having an insurable interest in the things insured as at the time of the loss.
- “Insurable interest” as used in this section means any actual, lawful and substantial economic interest in the safety or preservation of the subject of the insurance free from loss, destruction or pecuniary damage or impairment.
I hope to see some of you at the Las Vegas seminar. It’s going to be a great time and an awesome way to earn some continuing education credits with fantastic presentations!
As always, I’ll leave you with a (mildly) related tune. Here’s Brandon Flowers with Welcome to Fabulous Las Vegas: