Legal Opinion
Kramer v. Phoenix Life Insurance
New York Court of Appeals
Decided November 17, 2010No. 176PublishedCited by 23 opinions
1Opinion of the Court
OPINION OF THE COURT
Ciparick, J.
The United States Court of Appeals for the Second Circuit has certified the following question for our consideration:
“Does New York Insurance Law §§ 3205 (b)(1) and (b)(2) prohibit an insured from procuring a policy on his own life and immediately transferring the policy to a person without an insurable interest in the insured’s life, if the insured did not ever intend to provide insurance protection for a person with an insurable interest in the insured’s life?”
We now answer in the negative and hold that New York law permits a person to procure an insurance…
2Cases cited10 opinions
- Roberts v. Tishman Speyer Properties, L.P.New York Court of Appeals · 2009
- Olmsted v. . KeyesNew York Court of Appeals · 1881
- Ruse v. . the Mutual Benefit Life Insurance CompanyNew York Court of Appeals · 1861
- New England Mutual Life Insurance v. CarusoNew York Court of Appeals · 1989
- Steinback v. . DiepenbrockNew York Court of Appeals · 1899
5 more not listed; retrieve them via the Exa API.
3Cited by23 opinions
- PHL Variable Insurance v. Price Dawe 2006 Insurance Trust Ex Rel. Christiana Bank & Trust Co.Supreme Court of Delaware · 2011
- SPV-LS, LLC v. The Estate of Nancy BergmanCourt of Appeals for the Eighth Circuit · 2019
- Sun Life Assurance Company of Canada v. Wells Fargo Bank NA (080669) (Statewide)Supreme Court of New Jersey · 2019
- U.S. Bank National Ass'n v. PHL Variable Life InsuranceDistrict Court, S.D. New York · 2015
- AEI Life, LLC v. Lincoln Benefit Life Co.District Court, E.D. New York · 2016
18 more not listed; retrieve them via the Exa API.