Who does not hold an insurable interest?

The correct answer is based on the understanding of insurable interest, which is a crucial concept in insurance that requires the policyholder to have a legitimate interest in the insured property. An occupant, in this context, may not necessarily hold an insurable interest if they do not own the property or are not financially responsible for it.

Insurable interest typically applies to those who would suffer financially from the loss of the property. Property owners have a direct insurable interest since they own the property and would incur a loss if it were damaged or destroyed. Similarly, mortgage lenders hold an insurable interest because they have a financial stake in the property until the mortgage is fully paid off. They stand to lose money if the property is damaged, which is why they often require insurance.

On the other hand, while an occupant might live in the property, if they do not have a vested financial interest in the ownership or any financial commitment to the property, they may not qualify as having an insurable interest for insurance purposes. An insurance agent acts as a facilitator for obtaining insurance and does not have an ownership stake in the property they are insuring; thus they also do not possess insurable interest in the property.