You Be the Judge 7: Banta Properties v. Arch Specialty Insurance

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Read the "You Be the Judge" on p. 596 of the text. It is the case ofBanta Properties v. Arch Specialty Insurance.

Review the facts, and the arguments of each party in the case.

The main issue is: did the Banta family have an insurable interest in the apartment buildings? If so, should Arch have to pay the claim and in what amount?

Consider:

1. What are the rules for an insurable interest (see section 31-2b)?
2. Does Florida law cover the scenario in the case?
3. Are the requirements met in this case?
4. If Banta Properties had an insurable interest, what was their insurable interest and what should be its recovery from Arch? Why?