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Question 2 Considering the high risk of the business, Amy sought insurance coverage against losses to their business in her own name. After a few

Question 2

Considering the high risk of the business, Amy sought insurance coverage against losses to their business in her own name. After a few months, their business faced huge financial losses. When Amy submitted her claim to the insurance company in respect of the losses, they refused to entertain her claim on the ground that she has no insurable interest.

Using Companies Act 2016 and decided cases, state the issue and law for the related situation given above.

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