Crowne Investments, Inc. v. Bryant

On Application for Rehearing

The opinion of October 29, 1993, is withdrawn and the following opinion is substituted therefor.

This appeal arises out of Inter-American Insurance Company's refusal to pay death benefits under certain life insurance policies. After the death of the insured, the beneficiaries, who had been co-owners of stock with the insured, filed fraud and negligence claims against Inter-American and the agent for the insured. The trial court stayed the action against Inter-American because of bankruptcy and thereafter entered a summary judgment in favor of the agent. The…