If your home insurance policy is in joint names any settlement cheque is issued in joint names. For example if you took out your home insurance policy when you signed for your mortgage, the settlement cheque will have joint names and also your bank on the cheque.
When you receive the cheque you will have to send it to your mortgage company and they reissue it with joint names only.
If your policy is in joint names you can only lodge the cheque in a joint account with the same names, this is due to the fact that the cheques are always crossed.