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Statutes » New York » ISC Law » Article 34

N.Y. ISC Law § 3401

This is the official text of N.Y. ISC Law § 3401, part of New York’s ISC Law — part of the compiled statutory law of New York, published by the state as "ISC Law." Browse the sections below, each linked to its official government source.

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Insurable interest in property

Official statutory text

§ 3401. Insurable interest in property. No contract or policy of\ninsurance on property made or issued in this state, or made or issued\nupon any property in this state, shall be enforceable except for the\nbenefit of some person having an insurable interest in the property\ninsured. In this article, "insurable interest" shall include any lawful\nand substantial economic interest in the safety or preservation of\nproperty from loss, destruction or pecuniary damage.\n

Status: in_force · Read it on the official government site

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About this page: Statute text is reproduced from official government publishers via the Open US Law dataset (Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine (Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.