Aetna Insurance Company v. Steele

Opinion of the Court by

Chief Justice Clay

Reversing.

Clarence Steele was the owner of a house and lot near Corbin. In May, 1923, he procured from J. EL Mitchell a loan of $1,000, which he secured by a mortgage on the property. At the same time the Aetna Insurance Company issued to Steele a policy insuring his dwelling in the sum of $1,000 and his household g’oods, etc., in the 'sum of $200. Attached to the policy was the following loss payable clause:

“Any loss under this policy that may be proved due the assured shall be payable to the assured and J. H. Mitchell subject, nevertheless, to all…