Rapper Travis Scott was arrested early Thursday morning after allegedly having a drunken altercation at a Miami Beach marina – telling cops “It’s Miami” when he copped to drinking.

Scott, 33, was taken into custody after officers responded to a report of people fighting on a yacht at the Miami Beach Marina shortly before 1 a.m..

And found Scott standing by the dock and yelling at the occupants of one of the boats, according to the arrest affidavit obtained by The Post.

Police “could sense a strong smell of alcohol” on the rapper’s breath, and noted that he repeatedly disregarded officers’ instructions to sit down.

The person on the boat said they did not want to press charges, but simply wanted Scott off the vessel, the report continued.

As officers walked Scott from the yacht back to the boardwalk area, the “Sick Mode” musician “walked backwards yelling obscenities,” the report said.

When Scott got back to his car, he told police that “‘if he gets in the vehicle he’s gonna catch a fade,’ which is slang for fighting,” the write-up claimed.

Scott returned to the dock about five minutes later, according to the affidavit.

He became “erratic” and started yelling as he walked back towards the yacht, and allegedly ignored multiple warnings from officers.

Scott  – whose real name is Jacques Bermon Webster II – was taken into custody at 1:17 a.m. on charges of trespassing after a warning and disorderly intoxication.

Scott supposedly told the police “It’s Miami” when he later admitted to drinking alcohol.

He was booked at 4:35 a.m., where he posted a $650 bond.

“There was no physical altercation with anyone,” a source familiar with the incident told The Post.

“This was a rowdy party and Travis was already bailed out for a few hundred dollars. He is already home,” they added.

“There will be no further action to be taken as it was a minor incident akin to receiving a ticket with no injuries.”

Travis’ lawyer, Bradford Cohen, said in a statement, “Mr. Scott was briefly detained due to a misunderstanding. There was absolutely no physical altercation involved, and we thank the authorities for working with us towards a swift and amicable resolution.”

Scott’s arrest comes less than one month after he and Alexander “AE” Edwards got into a brawl at Richie Akiva’s annual “The After” afterparty in Cannes, France.

The pair supposedly started throwing punches after Scott got annoyed that Akiva shouted out Tyga and AE in the DJ booth.

“Travis was the aggressor,” a source told Page Six. “He and his team were being neurotic, erratic and crazy. He was there looking for a fight with anyone to be honest.”

AE’s girlfriend, the music legend Cher, later wrote on X that he “did not start” the fight.

Scott has also been embroiled in legal troubles over the crowd surge at the 2021 Astroworld music festival, which killed 10 people.

As of early May, nine out of the 10 wrongful death lawsuits filed in connection with the tragedy had reportedly been settled, while around 2,400 injury claims were still pending.

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Source: New York Post

Insurable Interest: A Key Concept in Insurance

Insurable interest is a fundamental principle of insurance contracts that ensures the legitimacy and fairness of insurance transactions. It refers to the legal right or financial interest a person or entity must have in the subject matter of the insurance contract. The concept ensures that the policyholder has a stake in the preservation or protection of the insured property or life. Without insurable interest, an insurance policy would not be valid or enforceable.

Key Aspects of Insurable Interest

1. Definition and Requirements
   • Definition: Insurable interest is a financial or other interest that one party has in the life, property, or liability that is the subject of insurance.
   • Requirements: It must be present at the time the insurance policy is issued. The policyholder should have a reasonable expectation of financial loss if the insured event occurs.
2. Examples of Insurable Interest
   • Life Insurance: A spouse has an insurable interest in the life of their partner because their financial security is tied to that person’s life.
   • Property Insurance: A homeowner has an insurable interest in their home and its contents because they own them.
   • Business Insurance: A company has an insurable interest in the health of its key employees, as their loss would affect business operations.
3. Purpose and Importance
   • Protection Against Moral Hazard: Ensures that the policyholder has a genuine interest in the preservation of the property or life, thus reducing the likelihood of fraudulent claims.
   • Legitimacy of Insurance Contracts: Guarantees that insurance contracts are not merely speculative bets on the occurrence of an event.

Types of Insurable Interest

1. Personal Insurable Interest: Direct and personal, such as a spouse having an interest in the life of the other spouse.
2. Financial Insurable Interest: A business owner has an interest in their inventory or machinery as loss would impact the business financially.
3. Property Insurable Interest: An individual has an interest in their home or car.

Legal Implications

• Life Insurance: Some jurisdictions require insurable interest only at the inception of the policy, while others require ongoing insurable interest throughout the policy term.
• Property Insurance: Insurance contracts may require insurable interest to be maintained throughout the duration of the policy. Failure to comply could result in the invalidation of claims.

Application in Insurance Policies

• Underwriting Process: Insurable interest is a key consideration during the underwriting process to assess risk and establish premiums.
• Claims Process: Insurable interest ensures that claims are legitimate, reducing fraudulent claims and ensuring that policyholders have a genuine financial stake.

Conclusion

Insurable interest is a foundational concept in insurance that ensures the integrity and validity of insurance contracts. It safeguards against moral hazard, establishes fairness in insurance transactions, and ensures that insurance policies provide genuine protection to policyholders. Understanding and applying insurable interest in insurance contracts is crucial for all parties involved, ensuring the protection and legitimacy of the insurance industry.