Tag Archives: Insurable Interest

John Garaffa on Insurable Interest

It is amusing and almost stunning to find others who used to be young attorney “rookies” in this field of property insurance law become masters. John Garaffa of Butler Weihmuller Katz Craig, is now a master in this field of law. He captured the room of property insurance law lawyers with what would normally be … Continue Reading

Insurable Interest of a Property Management Company in Commercial Managed Property

Last week, I discussed the concept of insurable interest in Florida and the effect of a foreclosure judgment on a party’s insurable interest in property. Let’s continue the discussion of insurable interest this week. Does a property management company have an insurable interest in commercial property which it manages but does not own?… Continue Reading

A Policyholder Must Have an Insurable Interest in Property at the Time the Insurance Policy Is Issued and at Time of Loss

When considering an insurable interest question in an insurance claim, there are two important times to look at: when the policy is issued and the time of loss. This is because the policyholder must have an insurable interest at the time the insurance policy is taken out and at the time of loss. A Florida … Continue Reading

One Can Have An Insurable Interest In Property Without Having A Legal Interest In The Property

The concept of an insurable interest in property insurance claims is a very important one. Without an insurable interest, you cannot recover damages in a claim. But the concept of the insurable interest does not always follow the legal concept of title. Having title, ownership, occupancy and responsibility for all expenses related to a property … Continue Reading

Does a Lessor Have an Insurable Interest Over Lessee’s Business Personal Property? – Understanding Business Interruption Claims, Part 80

Ownership of business personal property is required to trigger coverage and payment after a loss under most business income loss provisions. Notwithstanding this general rule, an insured may recover for a loss without necessarily having title to business personal property, so long as the insured can establish that it had an insurable interest in the … Continue Reading

Insurable Interest Raised in Hurricane Ike Claim in Texas

The first chapter of my Insurance Law textbook from law school was about the history of insurance. It set the stage for the next chapter on the insurable interest, one of the fundamental principles in insurance law. The term “insurable interest” is actually quite self-explanatory. In order to obtain insurance on something, one must have … Continue Reading

A Couple of Interesting Insurable Interest Cases From Florida and Texas

Following up on Sunday’s post, The Insurance Checklist–Insurable Interest and Address of the Risk, and while waiting for the politicians to decide how much our rates may go up in the following year, as indicated in yesterday’s post, A Big Week for Texas and Florida Politics of Insurance, here are some cases that explain insurable … Continue Reading