The word "insured", as used in part 1 of this article and this part 2, shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits, and rights provided therein.
C.R.S. § 10-16-206
This section is similar to former § 10-8-108 as it existed prior to 1992.