Legal Opinion
Employers' Fire Insurance v. British America Assurance Co.
Supreme Court of North Carolina
Decided May 22, 1963No. 455PublishedCited by 9 opinions
1Opinion of the CourtRodman, J.
The question presented by the appeal is: Should each of the insurers contribute to the payment of the loss -in the proportion which the sum insured bears to the total insurance, or must plaintiff pay all the loss?
Both a mortgagor and a mortgagee have an insurable interest in encumbered property. Shores v. Rabon, 251 N.C. 790, 112 S.E. 2d 556; Jeffreys v. Ins. Co., 202 N.C. 368, 162 S.E. 761; Bank v. Bank, 197 N.C. 68, 147 S.E. 691.
The mortgagee’s interest is limited to the debt due him. The standard policy, G.S. 58-176, expressly provides the insured shall not collect “in any event for more…
2Cases cited22 opinions
- Eddy v. London Assurance Corp.New York Court of Appeals · 1894
- Federal Land Bank of Columbia v. Atlas Assurance Co.Supreme Court of North Carolina · 1924
- Green v. Fidelity-Phenix Fire InsuranceSupreme Court of North Carolina · 1951
- Bank v. . Ins. Co.Supreme Court of North Carolina · 1924
- Batts v. . SullivanSupreme Court of North Carolina · 1921
17 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Tech Land Development, Inc. v. South Carolina InsuranceCourt of Appeals of North Carolina · 1982
- Hatley v. JohnstonSupreme Court of North Carolina · 1965
- United Stores Of America, Inc. v. Fireman's Fund Insurance CompanyCourt of Appeals for the Eighth Circuit · 1970
- Kirkland v. Ohio Casualty InsuranceCourt of Appeals of Washington · 1977
- Mutual Creamery Insurance v. Iowa National Mutual InsuranceDistrict Court, D. Minnesota · 1969
4 more not listed; retrieve them via the Exa API.