Kevin borrowed $3,000,000 from HSBC to purchase his new flat, which is worth $10,000,000. A homeowner insurance policy was purchased for the flat. Which of the following statement about insurable interest is correct? O a. HSBC has insurable interest in the flat in the first year, and Kevin has insurable interest in the flat from the second year onward O b. Only Kevin, but not HSBC, has insurable interest in the flat O c. Only HSBC, but not Kevin, has insurable interest in the flat O d. Neither Kevin nor HSBC have insurable interest in the flat O e. None of the above Several months later, Kevin's neighbour, Mac, forgot to turn off the cooking stove and caused a fire. Although the fireman arrived 5 minutes after the accident, the fire still destroyed Kevin's home. Kevin became homeless and got a claim payment under his homeowner insurance policy. Which of the following statements about subrogation is correct? Select one: O a. The insurer could recover the loss payment from Mac only O b. The insurer could choose either Kevin, Mac, or the fire services department to recover the loss payment O c. The insurer could recover the loss payment from the fire services department only O d. The insurer could not recover the loss payment from anybody Oe. The insurer could recover the loss payment from Kevin only