Bia Bangladesh Practice Test & Exam Prep

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Under general contract principles and the Contract Act 1872 in Bangladesh, when must insurable interest exist in a property (non-life) insurance policy (excluding marine cargo) for a claim to be enforceable?

Only at the time the policy is initially written Only at the time the loss occurs Both at the time of policy inception and at the time of loss Insurable interest is not required if the premium has been fully accepted by the insurer

Correct Answer:

Both at the time of policy inception and at the time of loss

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