Tippins Bank & Trust Co. v. Southern General Insurance

In June 1990, Tommy J. Dees (Insured) purchased a standard fire insurance policy from Southern General Insurance Company (Insurer). The policy covered Insured’s residence and the contents thereof for a one-year period and listed Tippins Bank & Trust Company (Lienholder) as a loss payee. In May 1991, Insurer mailed a renewal notice to Insured, informing him that the policy would expire on June 18, 1991 unless the renewal premium was paid before that date. No such notice was sent to the lienholder. Thereafter, the renewal premium was not paid and, on July 5,1991, Insured’s residence and its…