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BEN-HUR MFG. CO. v. FIREMEN'S INS. CO.

18 Wis.2d 259 (1962)

BEN-HUR MANUFACTURING COMPANY, Plaintiff and Respondent, v. FIREMEN'S INSURANCE COMPANY OF NEW JERSEY, Defendant and Respondent: AMERICAN CHURCH & HOME MUTUAL INSURANCE COMPANY,Defendant and Appellant.

Supreme Court of Wisconsin.

November 27, 1962.

Attorney(s) appearing for the Case

For the appellant there were briefs by Willink & Thompson of Madison, and oral argument by Donald D. Willink.

For the respondent Ben-Hur Manufacturing Company there was a brief by Quarles, Herriott & Clemons, and oral argument by L. C. Hammond, Jr., all of Milwaukee.

For the respondent Firemen's Insurance Company of New Jersey there was a brief by Whyte, Hirschboeck, Minahan, Harding & Harland of Milwaukee, attorneys, and Clausen, Hirsh, Miller & Gorman of Chicago, Illinois, of counsel, and oral argument by Reginald W. Nelson of Milwaukee.

HALLOWS, J.

The initial question is whether either Ben-Hur or Midwest, or both, had an insurable interest in the property. Public policy requires an insurable interest in property insured. A gambling or wagering agreement is void, sec. 331.055, Stats.; but that section provides a contract of insurance made in good faith for the security or indemnity of the party insured shall be lawful and valid. A fire insurance policy is an agreement to indemnify one for a loss...

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