Interstate Fire Insurance v. National Indemnity Co.

Pope, Judge.

National Indemnity Company (National) brought suit against Interstate Fire Insurance Company (Interstate) to recover losses which were sustained on two performance and payment bonds. After filing certain stipulations of fact, both parties moved for summary judgment. Interstate brings this appeal from the trial court’s order which granted National’s motion and denied Interstate’s motion. We reverse with direction that summary judgment be entered for Interstate.

Interstate and National entered into an “Agreement of Reinsurance” and “Hold Harmless Agreement” effective May 1,1971 under…