N.Y. Insurance Law § 3401: Insurable interest in property

§ 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.