Jameela is the owner of a timber estate. He sold the timber estate to a company for R1 million.This amount was paid to him in the form of one million fully paid shares in the company. Thecompany does not issue any further shares to anyone else. Jameela then insured the timberagainst fire by means of insurance policies that were taken out personally in his name. A monthlater the timber was destroyed by fire. Is the insurance company liable to pay Jameela on theinsurance policies?