California High Court Says Assignment Of Rights Is Permitted Without Consent
Mealey's (August 20, 2015, 5:19 PM EDT) -- SAN FRANCISCO — The California Supreme Court on Aug. 20 overruled a 2003 decision regarding anti-assignment clauses in insurance policies and said California Insurance Code Section 520 allows a company to assign its rights under insurance policies to successors without an insurer's consent if the assignment occurs after the loss for which coverage is sought (Fluor Corp. v. Superior Court of Orange County, et al., No. S205889, Calif. Sup.).
(Opinion available. Document #03-150826-008Z.)
Fluor Corp. (referred to as Fluor-2) is the second of two corporations named...