Munro v. Bowers

Munro was a general agent of Lloyd’s Insurance Company of America, hereinafter called Lloyd’s. The defendant’s intestate, one Gould, acted as an insurance broker. Lloyd’s, Munro and Gould did business in accordance with an established course of dealing under which Gould solicited business in Lloyd’s, and on the issuing of a policy, Lloyd’s billed the premium to Munro, who billed it to Gould, who billed it to the assured or collected it from the assured when the policy was delivered. Gould had no direct dealings with Lloyd’s, but settled his accounts with Munro semimonthly. Lloyd’s ceased to…