Report No. 21
See notes on earlier clauses.1
1. See notes to clauses 52 and 53.
This section deals with assignment of the "interest", and provides that the mere assignment of the property insured does not carry with it an assignment of the policy thereon. As to assignment of the policy, see sections 50 and 51 of the English Act. The effect of the section is that in the absence of an agreement to the contrary, where the interest of the assured is transferred to another person, the protection given by the policy would end on the determination of the interest of the assured.
As regards transmission by operation of law, the executor, administrator or receiver of the interest of the assured is entitled to have the benefit of the policy on behalf of those who are beneficially entitled to the property insured.1
2. Dover, p. 316.
Needs no comments.