N. E. Fire & M. Ins. v. Schettler

Citations

• 38 Ill. 166

Syllabus

<p>1. Insurance—insuring in other companies. An insurance policy issued by the New England Company provided that if the insured should have existing, during the continuance of that policy, any other insurance not consented to by that Company in writing, and mentioned in or indorsed</p> <p>upon the policy, then the insurance by that Company should be void. Held, that although the assured had existing, during a portion of the term embraced in such policy, other insurance, not consented to by the New England Company, either in writing or verbally, still, if such other insurance had ceased to exist at the time of the loss which the assured was seeking to recover of the New England Company, his right of recovery would not be affected.</p> <p>2. Or, where the party applying to the agent of the New England Company for insurance, mentioned to the agent that he already had other insurance, the assured should not suffer by reason of the neglect of the agent to enter it in writing, on the policy.</p> <p>3. Same—authority of insurance agents. An insurance agent, having the power to receive premiums, will be presumed to have authority to give permission to the holder of a policy to remove the property insured to another locality. It is sufficient that the party acting as agent, was the authorized agent of the Company. Having indorsed in writing on the policy the consent, for an enhanced premium, for the removal of the property, the Company should be held to it and bound by it.</p> <p>4. Same—as to the form by which a Company may be bound. Notwithstanding the charter of an Insurance Company requires their contracts of insurance to be executed in a particular mode, yet if they adopt a different mode, and receive the benefit of the contract, they will be bound by it.</p> <p>5. As, where the charter of a Company required that all agreements in relation to insurance should be signed by the President and Secretary of the Company, it was held that an agreement signed by an authorized a