KRS 304.14-060: Insurable interest, property.

(1) No contract of insurance of property or of any interest in property or arising from

property shall be enforceable as to the insurance except for the benefit of persons

having an insurable interest in the things insured as at the time of the loss.

(2) "Insurable interest" as used in this section means any actual, lawful, and substantial

economic interest in the safety or preservation of the subject of the insurance free

from loss, destruction, or pecuniary damage or impairment.

(3) When the name of a perso n intended to be insured is specified in the policy, such

insurance can be applied only to his own proper interest. This section shall not

apply to life, health or title insurance.