Who Gets the Ring?

Tuesday, November 20th, 2001 Litigation Property

Many soon-to-be-grooms schedule under the ISO Scheduled Personal Property Endorsement (HO 00 03 10 00) the ring they are about to give to their fiancées. Unfortunately, not all engagements work out. A frequently litigated issue is whether the ex-groom can recover for loss to the ring that occurs after the groom and fiancé have broken up, but before the ring has been returned to the groom. Under many circumstances, the ex-groom is entitled to coverage for a lost or stolen engagement ring because he retained an insurable interest in the ring. In short, whether an ex-groom can recover under the Scheduled Personal Property Endorsement will depend upon whether the groom has an insurable interest in the ring at the time of the loss.

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http://www.claimsmag.com/Issues/Oct01/coverage_analysis.asp

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