Aetna Insurance v. Kennedy Ex Rel. Bogash

Kennedy had a first mortgage, and a bank a second mortgage, on old brewery property in Pennsylvania owned by a distilling company. The bank procured from petitioners fire insurance policies covering the building. Each policy states it is understood that the insured building is under foreclosure by the bank; the premium being paid by the bank, it is agreed that, in event of loss, same will be adjusted with the bank and paid to it and Kennedy, mortgagee, as interest may appear. Each provides for cancelation upon, request of the insured and that the company may cancel by giving insured five…