Kelley Drye: New York Court of Appeals Decision Could Give Added Life to Life Settlements Industry | Practical Law
This Kelley Drye & Warren LLP memorandum discusses the impact of the New York Court of Appeals' decision in Kramer v. Phoenix Life Insurance Company, in which the Court held that a person may procure and immediately transfer a life insurance policy to another person without an insurable interest in that life, even if the policy was obtained solely for that purpose.