Jake applied for loans from the bank to purchase a truck. After that Jake leased this
truck to Mike. To run his business, Mike uses this rented truck to deliver products
and collect the payments for his delivery service. In this description, there are two
types of properties: truck and products. Discuss and explain which party(ies)
has(have) insurable interest in these properties (the relevant parties include Jake,
Mike, and the bank, and try to use your own words to explain why insurable
interest is satisfied in addition to referring to the textbook). (15 points)
The following questions are relevant to SASB insurance standard. Don't just write
down the articles of SASB accounting standard. Try to provide your own explanations
(use graphs to explain your ideas if necessary).
