In marine insurance, a person who has an interest in the thing from which profits are expected to proceed, has an insurable interest in the profits.
Cal. Ins. Code § 1885
Insurable Interests Peculiar to Marine Insurance
Enacted by Stats. 1935, Ch. 145.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.