Old Colony Co-Operative Bank v. Nationwide Mutual Fire Insurance

This is a civil action brought by Old Colony Co-operative Bank, a mortgagee of real property, against a fire insurance company to collect for fire damage under, an insurance policy. On June 2, 1969, William H. and Martha L. Bonneau, Jr., entered into a fire insurance contract for W.H.B., Jr., Inc. with the defendant, Nationwide Mutual Fire Insurance Company, to insure against fire damage to - realty located in North Kingstown. Two months later, on August 6, 1969, the plaintiff took a mortgage for $15,000 from W.H.B., Jr., Inc. on the realty. The property was destroyed by fire on July 6, 1970.…