Florida East Coast Properties, Inc. v. Tifco, Inc.

Florida East Coast Properties, Inc. (“FECP”) appeals a summary final judgment in favor of Tifco, Inc. on Tifco’s claim for unpaid installments under an insurance premium financing agreement. We affirm.

FECP obtained insurance for various of its properties through a broker. The broker quoted a premium of $1.1 million for one year’s coverage. The broker also arranged premium financing through Tifco. Under this arrangement, FECP advanced one-fourth of the premium as a down payment, and Tifco financed the remainder, *751with monthly installments to be paid to Tifco by FECP in the first nine months…