(C. Cj 17 Fed. 63.—Interest or no interest. These words, inserted in an insurance policy, mean that the question whether the insured has or has not an insurable interest in the subjectmatter is waived, and the policy is to be good irrespective of such interest. The effect of such a clause is to make it a wager policy.- Interest policy. In insurance. One which actually, or prima facie, covers a substantial and insurable interest; as opposed to a wager policy —Inuterest suit. In lish law. An action in the probate branch of the high court of justice, in which the vets in dispute is as to which party is entitled to a grant of letters of administration of the estate of a deceased person. Wharton,