Hartford Fire Insurance Co. v. Francis (In Re Pritchard & Baird, Inc.)

OPINION

WHIPPLE, Senior District Judge.

This is an appeal by Hartford Fire Insurance Company and Hartford Accident and Casualty Company (hereinafter Hartford) from a declaratory judgment entered by the Bankruptcy Court on April 25, 1980 (Bank ruptcy No. B 75-3202). The Court determined that Pritchard and Baird, Inc., (hereinafter P&B) acted as the agent of Hartford in connection with reinsurance placement.

The bankrupt, P&B, 1 was a reinsurance intermediary or broker. 2 In this role, P&B received premiums from Hartford to be paid on policies issued by the reinsurers. 3 However, P&B failed to…