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Old American Mutual Fire Insurance Company v. Gulf States Finance Company

The type of loss-payable clause in this case has a different meaning from the familiar standard/union clauses because it does not say that the mortgagee is protected from "any act or neglect" or "any omission" of the insured.

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SUPPLEMENTAL OPINION ON REHEARING

We deny Gulf States Finance Company’s motion on rehearing, but supplement our original opinion of February 14, 2002.

Neither in the original briefing in this case, nor on Gulf State’s motion for rehearing, has any party cited a case that construed language in a loss payable clause like that in the case before us. The only case we found construing such language was Reeves v. Granite State Insurance Co., 36 S.W.3d 58, 62 (Tenn. 2001). On rehearing, Gulf States contends that Reeves supports it, not Old American.

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