Nationwide Mutual Fire Insurance Company, Appellant v. Citizens Bank & Trust Company, Appellee

Summary

The court affirmed summary judgment for the named mortgagee because the policy's standard mortgage clause created an independent contract between the insurer and the mortgagee. Although the insurer could rescind the insureds' policy ab initio for material misrepresentations, that rescission did not affect the mortgagee's separate contractual rights or its timely claim. The court also rejected the insurer's alternative arguments based on the insureds' policy terms and denial provisions.