Final answer:
Insurable interest typically exists between parent and child, spouse and spouse, and business partners, due to inherent economic ties. However, it does not automatically exist between siblings unless there is a specific financial dependence or business relationship.
Step-by-step explanation:
Insurable interest is a prerequisite for the establishment of an insurance policy, meaning that the policyholder must be subject to a financial loss if the insured event takes place. In the listed relationships, insurable interest typically exists between parent and child, spouse and spouse, and business partners, as there is a clear financial impact upon the loss of the counterpart. However, the existence of an insurable interest between siblings is not presumed by law and would need to be specifically established, for example by showing a financial dependence or a business relationship between them. Therefore, while insurable interest often occurs naturally in the first three relationships due to the inherent economic ties, it does not automatically occur between siblings without an additional qualifying factor.