Florida/Georgia Personal Injury & Workers Compensation

...It notes that § 627.404 only requires an insurable interest “at the moment of the policy’s inception.” Fla. Stat. § 627.404(1). Further, Florida’s assignability statute generally permits the assignment of an insurance policy to a third party with no insurable interest. Fla. Stat. § 627.422 (1982)....

...iness income and the loss and/or damage to personalty. Simkins, 688 So.2d at 350 (citations omitted). Lexington claims that the district court ruled *1386 incorrectly and that the policy's "no assignment" clauses rendered it nonassignable. We agree. Section 627.422, Florida Statutes (1995), expressly states that the terms of an insurance policy determine its assignability: Assignment of policies.— A policy may be assignable, or not assignable, as provided by its terms....

...the assignment, until the insurer has received at its home office written notice of termination of the assignment or pledge or written notice by or on behalf of some other person claiming some interest in the policy in conflict with the assignment. § 627.422, Fla....

...[5] Accordingly, based on the unambiguous language of the statute and the policy, we hold that the policy's nonassignment clauses are dispositive and WAK's purported assignment of the policy was ineffective. See Classic Concepts, 570 So.2d at 313 (holding that section 627.422 prohibits assignment of an insurance policy without the insurer's consent where the policy includes an unambiguous "no assignment" clause)....

...consent. Neither do any of the other copies of the policy filed of record except Maryland's alleged original. At the hearing on motions for summary judgment, Maryland Casualty's counsel admitted that the policy contained no such clause. Pursuant to Section 627.422, Florida Statutes (1975), an insurer has the option of requiring or not requiring its consent to an assignment....

...The first reason is that a provision against assignment of an insurance policy does not bar an insured's assignment of an after-loss claim. West Fla. Grocery Co. v. Teutonia Fire Ins. Co., 74 Fla. 220, 77 So. 209 (1917); Gisela Inv., N.V. v. Liberty Mut. Ins. Co., 452 So.2d 1056 (Fla. 3d DCA 1984). Cf. § 627.422, Fla....

...On the other hand, all contractual rights are assignable unless the contract prohibits the assignment, the contract involves obligations of a personal nature or public policy dictates against the assignment. L.V. McClendon Kennels, Inc. v. Investment Corp. of So. Florida, 490 So.2d 1374 (Fla. 3d DCA 1986). Section 627.422, Florida Statutes (1989), provides that an insurer has the option of requiring or not requiring its consent to an assignment....

...s to the thing assigned.” Continental Cas. Co. v. Ryan Inc. E., 974 So. 2d 368, 376 (Fla. 2008) (citations and internal quotation marks omitted). By statute, an insurance policy “may be assignable, or not assignable, as provided by its terms.” § 627.422, Fla....

...Symon." The plaintiff tendered payment of premiums required for reinstatement, prayed that the insurance be reinstated and that the insurer be required to pay to the Bank the face value of the policy less any outstanding loan. We first consider appellant's claim that by virtue of F.S. 627.422 the appellee insurance company was required to send it, as assignee, notice of default in the payment of premiums....

...physician . . ., the insurer shall make such payment of benefits directly to any recognized . . . physician . . ., the insurer shall make such payment to the designated provider of such services, unless otherwise provided in the insurance contract."); § 627.422, Fla....

...BACKGROUND In Florida, insureds have long been permitted to sell their life insurance policies on the secondary market in accordance with Florida law permitting the assignment of such policies unless the policy itself prohibits the assignment (which the policies at issue in this case did not). See § 627.422, Fla....

...Garfinkel, 25 So.3d 62, 65 (Fla. 5th DCA 2009))). The point of a STOLI scheme is for the insured to work with an investor to create the insurable interest necessary, hold the policy until the two-year contestability, period expires, and then transfer the policy as permitted by section 627.422 to an investor who would not have had the insurable interest required to pi-oeure the policy in the first place....

...issue at hand—namely, whether requiring the inclusion of the statutory “checklist” in the instant assignment runs afoul of constitutional concerns. It is axiomatic that a Florida policyholder is ordinarily authorized to freely assign a post-loss insurance claim. See § 627.422, Fla....

...This is because “[g]enerally, rights under a contract are assignable.” Pro. Consulting Servs., Inc. v. Hartford Life & Accident Ins. Co., 849 So. 2d 446, 447 (Fla. 2d DCA 2003). This may be the case even if the policy contains an anti-assignment clause. § 627.422(2), Fla....

...Shakespeare Found., Inc., 108 So. 3d 587, 593 (Fla. 2013) (contracts); Wells Fargo Bank, N.A. v. Morcom, 125 So. 3d 320, 321 (Fla. 5th DCA 2013) (standing). Florida law generally allows an insured party to assign its post-loss policy benefits. See § 627.422, Fla....

judgment for Kravecas. This appeal followed. Section 627.422, Florida Statutes (1991), provides that an