Peerless Insurance Co. v. Manson

The sole issue presented on this appeal is whether a foreign stock insurance company, by reinsuring a portion of its risks with a Wisconsin mutual insurance company, becomes a policyholder-member so as to be liable for assessment.

It is conceded that the reinsurance treaties were silent on whether Peerless was a “policyholder” or “member” and on the entire subject of what liability, if any, Peerless had for *603an assessment by Federal. Any liability of Peerless for the instant assessment did not arise by contract but must be imposed by the provisions of ch. 201, Stats. 1957,1 which deal with…