Phrase commonly used in the loss payable section of an insurance policyA written contract of insurance. More where the insurable interestAn interest which the insured must have in the subject matter of the insurance he buys so that if the event insured against occurs, the insured will s... More in a property is either unknown or presently unascertainable, e.g., “Loss payable to A and B as their interest may appearPhrase commonly used in the loss payable section of an insurance policy where the insurable interest in a property is either unknown or presently unas... More.” This leaves the whole question of titleThe right to ownership of property. The owner of real property having just possession of his property. More to the insurance monies to be settled between the insuredThe entity (individual or otherwise) whose risk of financial loss from an insured peril is protected by the insurance policy. More and the person whose name appears in the loss payable portion of the policyLegally binding contract effecting insurance or certificates thereof, including all clauses, riders, endorsements and renewals. More.