§431:10-228  Assignment of policies. 
(a)  A policy may be assignable or not assignable, as provided by its terms.



(b)  Subject to the terms of the policy, any
policy providing the beneficiary may be changed upon the sole request of the
insured, may be assigned by either pledge or transfer of title, executed by the
insured alone, and delivered to the insurer, regardless of whether the insurer
is the pledgee or assignee.  Any such assignment shall entitle the insurer to
deal with the assignee as the owner or pledgee of the policy in accordance with
the terms of the assignment until the insurer has received at its home office
written notice of termination of the assignment or pledge, or written notice by
or on behalf of some other person claiming some interest in the policy in
conflict with the assignment. [L 1987, c 347, pt of §2]



 



Case Notes



 



  Because Hawaii law requires every insurance policy
to be subject to the general rules of contract construction, and an assignment
by operation of law is merely an extension of the common law tort rule of
successor liability, trial court erred in concluding that an assignment by
operation of law was consistent with Hawaii's rules governing construction of
insurance policies.  117 H. 357, 183 P.3d 734.



  Where insurance policies contained a no assignment
clause that required the consent of the insurer to bind it to any assignment
made by the named insured, and named insured assignor did not obtain any of the
insurers' consent prior to the assignment, assignee was not an insured under
any of the insurers' policies and was therefore not owed duties to defend or
indemnify by insurers.  117 H. 357, 183 P.3d 734.