About this document

Insurable Interest in Mortgage Insurance by Hazel Faco is a document available to read on EtoBox.

1) San Miguel Brewery (SMB) held a mortgage on property owned by D.P. Dunn to secure a loan. Dunn authorized SMB to insure the property. 2) SMB obtained insurance policies in its name as mortgagee. The policies did not reference any other interests. 3) Dunn later sold the property to Henry Harding without assigning the insurance policies. After a fire, Harding claimed the insurance proceeds. 4) The court ruled that Harding had no insurable interest and no right to claim the insurance proceeds. Only SM

Author

Hazel Faco

Language

EN