South Carolina Insurance v. Price

Gardner, Judge:

The South Carolina Insurance Company (SCIC) issued a policy in the name of Paul Price on property owned by BroSis, *213a partnership consisting of Paul Price, his brother, and his sister. After the building burned down, SCIC brought an action claiming that it was liable for only Paul Price’s share, or one third of the value of the building. The trial court granted the insureds’ motion for partial summary judgment, holding that the insurer was obligated to pay the full value of the building. The insurer appeals.1 We affirm.

The Valued Policy Statute provides that “[t]he amount of…