The nuances of the New York Court of Appeals’ recent decision in Kramer v. Phoenix Life Insurance Co., which pertains to life insurance, insurable interest and consumer property rights, deserve better treatment than that provided by Terence E. Smolev and Mary E. Mongioi in “Your Money and Your Life” (NYLJ, Jan. 31).
It is simply not true, as the authors assert, that until Kramer, “the general rule…was that it was not contemplated by the insurer…that the purchaser would transfer the same to a person or organization without an insurable interest.”
