Munson v. German Fire Insurance

Citations

• 33 Pa. Super. 551
• 1907 Pa. Super. LEXIS 335

Syllabus

<p>Insurance — Fire insurance — Assignment of policy — Consent of company —Proofs of loss.</p> <p>Where a vendor of real estate retains title until a balance of purchase money is paid, and the vendee takes out a policy of fire insurance, which with the consent of the insurance company, he assigns to the vendor as collateral security, and a fire occurs after all of the purchase money has been paid, but before a deed has been delivered to the vendee, the insurance company cannot object to jbroof that the assignment, although absolute on its face, was in fact collateral for the debt, nor can it allege in a suit brought by the vendor on the policy in his own name that the vendor had no insurable interest in-the property, and had no right to bring the suit in his own name.</p> <p>In such a case the vendor holds the policy as trustee for the vendee, and if the vendee does not object, the insurance company cannot object.</p> <p>Where an insurance company has refused to pay a policy of fire insurance on the sole ground that the plaintiff had no insurable interest, in the property, the insurance company cannot defend on the ground that the plaintiff had failed to furnish supplemental proof of loss on notice from the defendant.</p>