Thornton v. Personal Service Insurance

The determinative issue in this cause is whether appellant is liable for its failure to settle and to provide defense in the action filed by appellee Thornton against appellee Miller.

■ In finding such liability, the Court of Appeals reasoned :

“The provision for' a financial responsibility bond is contained in R. C. 4509.45 and R. C. 4509.59. In its brief, appellant urges the argument that, ‘A bond does not insure the principal against liability nor does it agree to "indemnify him "against loss.’ As far as this argument goes, it is true. Rut as the appellant concedes * * * in its brief the…