The insurable interest of a mortgagee in the insured property, up to the amount due under the mortgage.
The insurable interest of a mortgagee in the insured property, up to the amount due under the mortgage.
A maritime legal principle, separate and apart from marine insurance, whereby all parties to an adventure, who benefit from a sacrifice or expenditure incurred in preserving an imperilled adventure, must each contribute rateably to make good the amount sacrificed or the expenditure incurred.