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SUPREME COURT OF LOUISIANA NO. 98-C-0520 LOUISIANA FARM BUREAU MUTUAL INSURANCE COMPANY V. JOHN G. THOMPSON III ON WRIT OF CERTIORARI TO THE COURT OF APPEAL, THIRD CIRCUIT PARISH OF RAPIDES, STATE OF LOUISIANA MARCUS, Justice* John Thompson III (Thompson), a resident of Alexandria, owned certain commercial real estate in that city and purchased fire insurance on the property from Louisiana Farm Bureau Mutual Insurance Company (Farm Bureau). On April 15, 1995, a fire

occurred that caused substantial damage to the insured premises. A representative of Farm Bureau visited the site with Thompson shortly after the fire, adjusted the loss, and issued a draft for $44,001.23 on May 12, 1995.1 In exchange for the insurance

proceeds, Thompson executed an agreement whereby he assigned, transferred, and subrogated to Farm Bureau all rights he might have against any party in connection with the loss. At the time of the fire, the property was leased to E-Z Serve, Incorporated, which had subleased the site to Jerry Gunn, who was operating it as a convenience store. A written lease

in effect between Thompson and E-Z Serve required E-Z Serve to obtain fire insurance on the premises and to make Thompson the loss payee as to any fire damage proceeds. It also required Thompson to

*

Victory, J. not on panel.

Rule IV, Part 2,

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