Commonwealth v. Massachusetts Mutual Fire Insurance
Massachusetts Supreme Judicial Court
An application under Gen. Sts. c. 58, § 6, was made to this court by the Insurance Commissioner against each of the defendant companies, representing that upon an examination had by him he was of opinion that it was insolvent, and that its condition was such as to render its further proceedings hazardous to the public and to those holding its policies, and praying that an injunction might issue restraining it wholly from proceeding with its business, and asking for the…
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An application under Gen. Sts. c. 58, § 6, was made to this court by the Insurance Commissioner against each of the defendant companies, representing that upon an examination had by him he was of opinion that it was insolvent, and that its condition was such as to render its further proceedings hazardous to the public and to those holding its policies, and praying that an injunction might issue restraining it wholly from proceeding with its business, and asking for the appointment of receivers. In each case such an injunction issued, and receivers were appointed. Subsequently the injunction…
1Opinion of the CourtWells, J.
These four cases were argued together. It will be more convenient to consider and dispose of them together, inasmuch as the question, iipon which the greater part of the discussion was had, is presented in one form or another in all of *119them; to wit, what, in the present condition of affairs, are the rights of policy holders in respect of their claims for return premiums, or for the loss of the value of the unexpired terms of their policies? All further business of the corporation is suspended by the injunction and appointment of the receivers, upon the intervention of the Insurance…
2Cited by30 opinions
- Stone v. Old Colony Street Railway Co.Massachusetts Supreme Judicial Court · 1912
- Corey v. ShermanSupreme Court of Iowa · 1895
- Commonwealth v. Massachusetts Mutual Fire InsuranceMassachusetts Supreme Judicial Court · 1875
- Atwood v. DumasMassachusetts Supreme Judicial Court · 1889
- Public Housing Admin. v. Housing Auth. of BogalusaSupreme Court of Louisiana · 1961
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