Mrs. Knittle quits her business, Knittle's Knitting Shop; she assigns the lease and her insurance policy to Parker's Pistol Packing, a company that packs shotgun shells with gunpowder. The assignment of the insurance policy is ineffective.

Question

Quizplus · Accepted Answer

Insurance policies are typically personal contracts and cannot be assigned to another party without the insurer's consent, as they are based on the specific risk profile of the insured party.

Mrs Knittle Quits Her Business, Knittle's Knitting Shop; She Assigns