Parties to the "swaps" in question did not have insurable interest in the risk.
It is the most morally questionable form of insurance, because it lets one insure against the borrower defaulting on, say, a bond, without having an insurable interest in that bond.
Regular unemployment benefits are available to Canadian residents who have had no work or pay for at least 7 days in a row and who have worked for the required number of insurable hours in the last 52 weeks.
Courts have deemed that charities have a similar "insurable interest" in their major donors.
Spatial relationship between different categories of insurable counties in the same region was then quantified by the SDE pairs.
Spatially, there were more insurable countries in the Northeast region for chilling injury (Fig. 4a) than those for heat damage (Fig. 4b).
Four economic categories were thereby determined: poor (n = 2,532), low income (monthly income less than Taiwan's minimum wage level in 2000 of 15,840 new Taiwan dollars [NTD], n = 89,868), middle income (monthly income 15,840 57,779 NTD, n = 478,086), and high income (monthly income at or above the highest rank of insurable income in 2000 [57,800 NTD], n = 30,176).
They'll never be denied insurance because they were sick once in the past, and they will never have to worry that after some arbitrary dollar amount is reached, they won't be insured or even insurable ever again in their lives.
This unit has been used for different purposes, including calculating insurable livestock units in the index-based livestock insurance programmes in northern arid areas of Kenya.
