Johnson v. North British, Ins.

SHEFLEY, Circuit Judge.

A mortgagee may insure liis interest in the property without regard to the mortgagor, and, in case of loss, he may recover the amount without any liability to account to the mortgagor. Different mortgagees of 'the same property have independent interests, which each may insure for his own benefit, to the full amount.

The policy in this case contains the following provision: “Nor shall the assured be entitled to recover of this company any greater proportion of the loss or damage than the amount hereby insured bears to the whole sum insured on said property, whether such…