A change of interest in a subject insured, after the occurrence of an injury which results in a loss, does not affect the right of the insured to indemnity for the loss.
Cal. Ins. Code § 301
Insurable Interest: Effect of Transfer
Applied in 2 court decisions — leading case Mann v. Glens Falls Insurance (1974)
Most recently applied in 273 F. Supp. 2d 673 - B a Properties, Inc. v. Aetna Casualty & Surety Co. (July 2003)
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.