Kershbaum v. London Guarantee & Accident Co.

Opinion by

Mr. Justice Kephart,

This is an action to recover losses under a policy of credit insurance. The relevant clauses of the policy are as follows:

“No loss is covered by this policy unless the debtor to whom the goods were shipped and delivered shall have in the latest published book of R. Gr. Dun & Company Mercantile Agency, at the date of shipment, a capital rating and its accompanying credit rating as tabulated below. The books of the said Mercantile Agency shall respectively govern shipments......except where the mercantile agency increases or reduces a rating by report, compiled…