McKinney v. Western Assurance Co.
Court of Appeals of Kentucky
Case 71 — PETITION ORDINARY APPEAL FROM MONTGOMERY CIRCUIT COURT. 1. The assignment of an insurance policy creates and constitutes a new contract of insurance between the company and the assignee whereby the assignee becomes the beneficiary in the policy. (Insurance Company v. Allen, 14 Ky.
Read the full summary
Case 71 — PETITION ORDINARY APPEAL FROM MONTGOMERY CIRCUIT COURT. 1. The assignment of an insurance policy creates and constitutes a new contract of insurance between the company and the assignee whereby the assignee becomes the beneficiary in the policy. (Insurance Company v. Allen, 14 Ky. Law Rep., 161.) 2. The consent of an insurance company to the assignment of a policy to one holding a mortgage on the insured property carries with it the implied consent that the mortgagee may, upon maturity of his debt, foreclose his mortgage lien, and, if necessary to protect himself, become the…
1Opinion of the Court
JUDGE GRACE
delivered the opinion of tiie court.
On the 29th day of March, 1890, Jno. S. Parrish effected an insurance on his dwelling house, situated on a tract of land of one hundred acres, in Montgomery county, in the Western Assurance Co., Toronto, Canada, for one thousand dollars, for the period of three years from said date, and paid twelve dollars and fifty cents, the agreed premium on same, taking a policy in the usual form. This policy, however, contained many stipulations and conditions, limiting the liability of the defendant company, and among others, this one, that is now relied…
2Cases cited3 opinions
- Bergman v. Commercial Assurance Co. of LondonCourt of Appeals of Kentucky · 1892
- Manhattan Insurance v. Stein & ZangCourt of Appeals of Kentucky · 1869
- Home Insurance v. AllenCourt of Appeals of Kentucky · 1892
3Cited by15 opinions
- Delaware Ins. v. GreerCourt of Appeals for the Eighth Circuit · 1903
- Royal Insur. Co. v. DruryCourt of Appeals of Maryland · 1926
- Prudential Insurance v. German Mutual Life Insurance Ass'nMissouri Court of Appeals · 1933
- State ex rel. American Fire Insurance v. EllisonSupreme Court of Missouri · 1916
- Home Insurance Co. of N.Y. v. WilsonCourt of Appeals of Kentucky (pre-1976) · 1925
10 more not listed; retrieve them via the Exa API.