Summary judgment for reinsurer affirmed in collateral assignment case

A Florida Court of Appeal has affirmed a summary judgment in favor of a reinsurer arising out of the partial assignment of the underlying insurance policy as security for a loan, where the reinsurer paid the insured $8 million for a fire loss, ignoring the recorded assignment. Banco Ficohsa v. Aseguradora Hondurena, S.A., – So.2d -, 2006 WL 1999368 (Fla. 3rd DCA July 19, 2006) (slip opinion). Carlton Fields represented Banco Ficohsa in the appeal of this case.