AmeriTrust Co. National v. West American Insurance

AmeriTrust Company National Association (“the bank”) timely appeals from an adverse summary judgment in its suit against appellee West American Insurance Company (“the insurer”). The bank sought to recover as loss payee under a fire insurance policy issued by the insurer. The bank presents two assignments of error for review, 1 neither of which merits a reversal.

In May 1983 Petar and Ljubica Perisic obtained a mortgage loan from the bank for the purchase of residential property. Pursuant to the mortgage agreement, Petar Perisic obtained insurance on the property from the insurer designating…