Consider the following statements:

I. The things or property insured is called Insurable Interest of the Insurance.

II. Subject Matter is an economic stake in an event for which a person or entity purchases an insurance policy to mitigate the risk of loss.

III. A cover note is a temporary certificate of insurance, issued by the Insurer before the issuance of a policy after the Insured has given a duly filled-in proposal form and has paid the premium in full.

Which of the above statements is/are INCORRECT?