Insurance Contracts are Gambling Contracts ~ The Concept of Insurable Interest
An Insurance Contract is a Gambling Contract as Si (aka TheSpaniard) is about to explain.
Way back when it was common place for the wealthy to insure the lives of peasants who they would, in turn, then proceed to kill ~ in order to collect the insurance payout!
Then along came the concept of Insurable Interest which was supposed to end the profiteering! But has it?
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