Document Type : Original Research Paper

Authors

• M. Isanloo
• F. Fooladgar

Department of Private Law, University of Tehran, Tehran, Iran

Abstract

Insurable benefit is a relatively unknown concept in Iranian law, which is limited only to damage insurance and in the field of personal insurance, according to Article 23 of the Iranian Insurance Law approved in 1316, the criterion of satisfaction of the insured has been replaced by the concept of insurable benefit. This is despite the fact that in English insurance law, the concept of insurable interest is emphasized as the basic principle of insurance - both in personal insurance and damage insurance - and the alternative criterion, the satisfaction of the insured, has not been so favored by the judicial procedure and laws of this country. British insurance law has been paying attention to the dimensions of this concept and the guarantee of its implementation for more than a century, and considerable literature has been formed in this country's law, both in the economic aspect and in the legal aspect. While Iran's insurance law, like French law, despite emphasizing the necessity of benefit in damage insurance, there is no provision regarding the guarantee of its absence in the contract. This article aims to emphasize on the necessity of insurable interest not only in damage insurance but also in the field of personal insurance with a comparative approach, and on the other hand, according to the foundations of the country's legal system, to clarify the guarantee of the lack of interest in the insurance contract.

Keywords

• Insurable Interest
• Wager
• Moral Hazard
• Risk
• Sanction