The appellants challenged the dismissal of claims arising from a mortgage life insurance denial after an elderly borrower died shortly after closing.
The court held there was no enforceable contract of insurance for the deceased because he did not meet the policy definition of an insured borrower, which imposed an age limit.
Assuming the lender could in some circumstances act as the insurer's agent, the evidence did not satisfy the stringent waiver test requiring full knowledge of rights and an unequivocal intention to abandon them.
The negligence claims also failed for lack of proof that alternative insurance would have been available and thus lack of damages.
