All Island Credit Corp. v. Lincoln General Insurance

The plaintiff All Island Credit Corp. is a premium finance company which entered into a premium finance agreement (hereinafter the finance agreement) with the nonparty insured (hereinafter the insured) to finance the premiums due and payable under a certain policy of insurance issued by the defendant Lincoln General Insurance Company to the insured. The financed premiums were forwarded to the nonparty broker KRL Enterprises, Ltd. (hereinafter KRL) who, in turn, forwarded the financed premiums to Northern Financial Group, Inc., an agent of the defendant, by a check drawn against KRL’s premium…