Chicago Title & Trust Co. v. Illinois Fair Plan Ass'n

Chicago Title & Trust Company, as land trustee, brought this action on behalf of a beneficial owner, Dr. Romeo Pallotto (hereinafter plaintiff), to recover insurance benefits under two fire insurance policies issued by defendant, Illinois Fair Plan Association. A jury returned a verdict for plaintiff in the sum of $39,500, and the trial court entered judgment on the verdict. The trial court denied defendant’s post-trial motions for judgment notwithstanding the verdict and new trial. On appeal, defendant contends that plaintiff had no insurable interest in the properties; that coverage under…