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Assignments Of Insurance As Collateral: A Case Law Sampler

LexisNexis (May 3, 2018, 10:41 AM EDT) -- In our prior story, we reported on a recent case from New York where the secured lender and its counsel sought to perfect a security interest in a portfolio of life insurance policies by filing UCC financing statements covering the policies. The collateral was clearly "insurance". The lender and its counsel apparently never recognized that security interests in insurance are beyond the scope of Article 9; instead, they should have perfected by directly notifying the insurance carriers. 

The insurance exemption from Article 9 has generated a...
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