American Insurance Co. v. First Savings & Loan Ass'n

OPINION

MASSEY, Chief Justice.

We initially consider the case before us as involving the judgment secured by plaintiff First Savings and Loan Association, appellee, as against American Insurance Company, appellant. In other aspects the case will be subsequently discussed.

First Savings, as mortgagee under American’s fire insurance policy, recovered a judgment for its interest thereunder. This policy of insurance had been secured by the mortgagor (owner) of the property prior to the time First Savings became mortgagee. It was by endorsement that First Savings became a party insured. The property…