Judge: Mortgagee Entitled To Recover $50,130.08 Under Flood Insurance Mortgage Clause Even If Insured Failed to Make Premium Payment

NEW ORLEANS - Under the Standard Flood Insurance Policy's mortgage clause, a mortgagee is entitled to recover the amount of an insured's mortgage that was outstanding on the date of the insured's loss stemming from Hurricane Katrina, a Louisiana federal judge held May 19, granting the insured's motion for summary judgment (Jeanne Tillery v. National Flood Insurance Program, et al., No: 06-4934 SECTION: "S" [3], E.D. La.; 2011 U.S. Dist. LEXIS 55100). Full story on lexis.com