General Casualty Co. of Wisconsin v. Mid-Continent Agencies, Inc.

OPINION

SHORT, Judge.

This action for conversion involves monies deposited by an independent insurance agent. A bank applied the monies against the agent’s debt to the bank. The insurers objected, claiming the monies were trust funds. On cross motions for summary judgment, the trial court found no fiduciary relationship existed between the agent and the insurers. On appeal from judgment in favor of the bank, the insurers argue they are entitled to judgment as a matter of law because agents hold premiums in a fiduciary capacity. In the alternative, the insurers argue issues of material fact…