Transit Casualty Co. v. Topeka Transportation Co.

Foth, C.J.:

Plaintiff insurance carrier brought this action to recover $7,515.00 in retrospective premiums alleged to be due under liability policies issued to the defendant, a city bus company, covering the period February 2, 1971, to July 6, 1973. Plaintiff appeals from a judgment rendered in favor of defendant after bench trial.

The premiums called for were fixed by policy formula. The standard premium was determined by the company’s revenues, with a guaranteed minimum. The retrospective aspect was based on the company’s experience; the total of claims paid (including reserves) plus the…