They still do, they just call it insurance.
No they don't, the practice was banned some time ago. You now require a "insurable interest". https://en.wikipedia.org/wiki/Marine_Insurance_Act_1745#:~:t...
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No they don't, the practice was banned some time ago. You now require a "insurable interest". https://en.wikipedia.org/wiki/Marine_Insurance_Act_1745#:~:t...