There is a newer version
of
the New York Laws
2019 New York Laws
ISC - Insurance
Article 34 - Insurance Contracts-Property/casualty
3401 - Insurable Interest in Property.
Universal Citation: NY Ins L § 3401 (2019)
§ 3401. Insurable interest in property. No contract or policy of insurance on property made or issued in this state, or made or issued upon any property in this state, shall be enforceable except for the benefit of some person having an insurable interest in the property insured. In this article, "insurable interest" shall include any lawful and substantial economic interest in the safety or preservation of property from loss, destruction or pecuniary damage.
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