This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams.

In this episode you will learn:

- Insurable interest in Property & Casualty insurance must exist at the time of the loss.

- The principle of indemnity means insurance restores you to your pre-loss financial state, preventing profit from a claim.

- Having an insurable interest means you would suffer a financial hardship if the insured property were damaged.

- Mortgagees and lienholders have an insurable interest limited to the amount of their financial stake in the property.

- A key exam trap is distinguishing the timing of insurable interest for P&C (at time of loss) versus life insurance (at time of application).

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep