Industrial Ins. Co. of NJ v. First Nat. Bank of Miami

57 So.2d 23 (1952)

INDUSTRIAL INS. CO. OF NEW JERSEY

v.

FIRST NAT. BANK OF MIAMI et al.

Supreme Court of Florida, Division A.

February 22, 1952.

Blackwell, Walker & Gray, Miami, and Whitfield, Musgrave, Selvy, Fillmore & Kelly, Des Moines, Iowa, for appellant.

Loftin, Anderson, Scott, McCarthy & Preston, Miami, for appellee.

THOMAS, Justice.

Insurance policies indemnifying property owners for loss from fire are usually written for one year for a stated amount, but there is an appreciable reduction in the total premium if the policies are taken for three or five-year periods. For illustration, the cost…