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The Fourth District Court of Appeal recently issued three opinions that compound the concerns of insurers dealing with increased claims costs due to assignments of benefits. This latest setback follows an earlier decision of the Fifth DCA rejecting an insurer’s argument that post-loss assignments should be prohibited based on a contractor’s not having an insurable […]
The Fifth District Court of Appeal upheld an assignment of benefits against a claim that the assignee lacked an insurable interest. In Accident Cleaners, Inc. v. Universal Insurance Company of North America, the Fifth District reviewed a trial court’s dismissal of Accident Cleaners’ complaint against the insurer. Accident Cleaners took an assignment of rights under […]
By: Tom Crabb and Karen Asher-Cohen Adding to the risks faced by those who invest in life settlements, on September 20, 2011 the Delaware Supreme Court held that a life insurance policy can be challenged by the insurer for lack of an insurable interest even after the two year contestability provision in the policy has […]
