Requiring Approval of All Insureds and Mortgagees To Assign Policy Upheld by Florida Court

Here, the contract did not prohibit assignment, but only imposed a permissible condition upon assignment – requiring the approval of all insureds and the mortgagee. The Restoration 1 court distinguished longstanding precedent of the Florida Supreme Court (dating to 1918) in West Florida Grocery Co. v. Teutonia Fire Ins. Co.

The Florida Court of Appeal upheld an assignment of benefits provision that required signatures of all insureds and mortgagees. Restoration 1 of Port St. Lucie v. Ark Royal Ins. Co., 2018 fla. app. LEXIS 12633 (fla. ct. app. sept. 5, 2018). Ark Royal issued a homeowner’s policy to the insureds.

The endorsements proposed the inclusion of new language, titled "Assignment of Benefits" (AOB); the language restricted the ability of policyholders to assign post-loss benefits absent the consent of all insureds, all additional insureds, and all mortgagees named in their policies. 1. OIR issued a letter disapproving the proposed endorsements.

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A Florida appeals court has sided with the state’s insurance regulator in rejecting policy language filed by a Florida homeowners insurer to restrict the use of assignment of benefits. The.

2019-03-14  · ”The freedom of contract allows parties to a casualty insurance contract to agree that an assignment of claim benefits must have the written consent of other insureds and the named mortgagees,” the brief said. “No Florida law or public policy precludes a court from enforcing such a condition.” In a brief filed last month at the Supreme.

The Fourth District Court of Appeal upheld the dismissal and found that the policy. Court of Appeal clarified that the policy provision at issue did not prohibit assignment but merely imposed a condition requiring the approval of all insureds and the mortgagee.. This issue will now be sent to the Florida Supreme Court for consideration.

Requiring Approval of All Insureds and Mortgagees To Assign Policy Upheld by Florida Court Last month, the Florida Court of Appeals for the Fourth District weakened assignment-of-benefits claims after it held that an insurer may require all insureds and mortgagees to provide written consent prior to executing an assignment of benefits agreement.

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The trial court granted Ark Royal’s motion to dismiss on the grounds that the assignment failed to comply with the policy’s “unambiguous” condition that claims assignments be executed by all insureds and mortgagees. The Florida appellate court agreed, holding that the language of the assignment of benefits provision was enforceable.