Georgia Mutual Insurance v. Nix

Jordan, Judge.

Former Code § 66-812 provided as follows: “To sustain any contract of insurance, it shall appear that the insured has some interest in the property or event insured, and such as he represented himself to have. A slight or contingent interest, whether legal or equitable, shall be sufficient, and several having different interests may unite in procuring one policy; so a husband or parent may insure the separate property of his wife or child, the recovery being held by him in trust for them; but a mere expectation of an interest is not insurable.” This Code section was repealed by…