National Premium Budget Plan Corp. v. LaSalle Casualty Co.

Plaintiff, a Michigan corporation, is engaged in financing the payment of premiums on insurance policies where the premium payments are large. It financed the premium on the installment plan on a policy originally issued by and subsequently cancelled by the defendant insurance company. This suit is to recover from the insurance company the balance of the unearned premiums. The trial court found for the defendant and entered a judgment in bar. Plaintiff appeals.

The precipitating cause of this litigation is Transportation Insurance Agency whose manager departed with the funds involved. The…