Gary Meggitt on the Doctrine of Insurable Interest

"Insurable interest - the doctrine that would not die"
Gary Meggitt
Legal Studies

June 2015, Vol. 35, Issue 2, pp. 280-301

Abstract: The doctrine of insurable interest grew out of eighteenth-century anxieties over fraudulent seafarers and habitual gamblers. It was created by the courts, entrenched by statute and remains in place to this day despite the fact that it serves no practical or legal purpose. It was hoped by many that, when the English Law Commission and Scottish Law Commission established their joint review of insurance contract law in 2006, the doctrine would be consigned to the proverbial dustbin of history. Eight years later, these hopes have been dashed. The doctrine is here to stay. This paper asks 'Why' and finds the answer to be elusive.