Thico Plan, Inc. v. Ashkouti

Benham, Judge.

Appellees are a group of persons claiming ownership of an apartment complex which was damaged by fire. Appellant The Standard Fire Insurance Company (“Standard”) issued a policy of fire insurance covering the damaged property. Appellant Thico Plan, Inc. (“Thico”) is a premium financing company which financed part of the premiums on the policy issued by Standard.

Contending that payments under a financing agreement were late and that a payment check was dishonored by appellees’ bank, Thico sent notices of intent to cancel the policy in June and July of 1980 and, pursuant to a…