An Arican seller signed a CIF contract exporting goods to an American buyer. The seller insured the goods against All Risks at the request of the buyer and transferred the insurance policy and the bill of lading to the buyer afterwards. In transit from the seller's warehouse to the port of shipment, the goods suffered losses which were within the insurance coverage. When the buyer asked the insurer for compensation with the insurance policy, the insurer refused to make compensation on the ground that the buyer held no insurable interest in the goods when the loss occured. Comment on the case.