Which of the following individuals does NOT have an insurable interest in Big Ed's Steak House?

In the context of insurance, insurable interest refers to the financial stake an individual has in the life or property being insured. For someone to have an insurable interest, they must stand to lose financially if the insured property is damaged or destroyed.

In this scenario, Ed and his partner both have ownership stakes in Big Ed's Steak House, which means they would suffer a financial loss if the business were to face any adverse events. Similarly, ABC Bank has a direct financial interest in the restaurant because it holds the mortgage. If the restaurant were to fail or face significant damage, the bank would have a financial loss as it is owed money.

On the other hand, Jim, who regularly eats at the restaurant, benefits from the service the restaurant provides but does not have any ownership or financial stake in it. His enjoyment of the restaurant does not translate into a financial loss for him if something were to happen to it. Therefore, since Jim does not have a financial interest in Big Ed's Steak House, he lacks the insurable interest necessary to insure the restaurant.