Sigola Manufacturing, Inc. v. Dairyland Insurance

In this action, the plaintiff seeks to recover under a policy of fire insurance issued to it by the defendant for a loss incurred as a result of a fire in a building it occupies as a tenant. The defendant sought leave to amend its answer to assert a counterclaim to recover certain moneys already paid on the ground that since the plaintiff is not the owner of the building, it has no insurable interest therein.

An insurable interest in property includes "any lawful and substantial economic interest in the safety or preservation of property from loss, destruction or pecuniary damage” (Insurance…