STATE v. BLUE CREST PLANS, INC.


72 A.D.2d 713 (1979)

State of New York, Appellant, v. Blue Crest Plans, Inc., Respondent

Appellate Division of the Supreme Court of the State of New York, First Department.

November 20, 1979


Subdivision 1 of section 41 of the Insurance Law provides: "The term `insurance contract' * * * shall * * * be deemed to include any agreement or other transaction whereby one party, herein called the insurer, is obligated to confer benefit of pecuniary value upon another party, herein called the insured or the beneficiary, dependent upon the happening of a fortuitous event in which the insured or beneficiary has, or is expected to have at the time of such

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