Cal. Ins. Code § 281 : CALIFORNIA INSURANCE CODE — GENERAL RULES GOVERNING INSURANCE — THE CONTRACT — PARTIES, EVENTS, AND INTERESTS — INSURABLE INTEREST: GENERALLY — Interest in property constituting insurable interest
Every interest in property, or any relation thereto, or liability in respect thereof, of such a nature that a contemplated peril might directly damnify the insured, is an insurable interest.