Barger v. All-Coverage Insurance Exchange

Opinion

HERNDON, J.

Statement of the Case

At issue in this appeal is the disposition of moneys collected through an assessment of the policyholders of All-Coverage Insurance Exchange, a reciprocal insurer, appellant herein. The assessment, levied pursuant to the provisions of section 1062 of the Insurance Code, produced a fund which was more than sufficient to pay all approved claims in full.

The trial court ordered that the proceeds of the assessment in excess of the amount required to pay claims be refunded to the policyholders from whom the moneys had been collected. Appellant contends that…