Georgia Farm Bureau Mutual Insurance v. Mikell
Court of Appeals of Georgia
1Opinion of the Court
Deen, Judge.
One has an insurable interest in property where he has any actual, lawful and substantial eco nomic interest in its preservation. Code Ann. § 56-2405 (2). A partner has such an interest in firm assets. Code §§ 75-206, 75-207. "It is the general rule that an insurable interest in the property of a partnership exists in both the partnership and the partners, and that a partner has an insurable interest in the firm property which will support a policy taken out thereon for his own benefit.” 43 AmJur2d 526, Insurance, §492. "A partner who insures partnership property in his own name…
Also in this document: Concurrence.
2Cases cited9 opinions
- Dependable Insurance Co. v. GibbsSupreme Court of Georgia · 1962
- Belch v. Gulf Life Insurance Co.Supreme Court of Georgia · 1964
- Stanley v. Sterling Mutual Life InsuranceCourt of Appeals of Georgia · 1913
- Yates v. Cotton States Mutual Insurance CompanyCourt of Appeals of Georgia · 1966
- Closuit v. MitbySupreme Court of Minnesota · 1953
4 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Nee v. State Farm Fire & Casualty Co.Court of Appeals of Georgia · 1977
- Auto-Owners Insurance v. OgdenSupreme Court of Georgia · 2002
- Allstate Insurance v. ThompsonCourt of Appeals of Georgia · 1982
- Commercial Union Insurance v. F. R. P. Co.Court of Appeals of Georgia · 1984
- Buffington v. McClellandCourt of Appeals of Georgia · 1973
14 more not listed; retrieve them via the Exa API.