Employees' Liability Assurance Corp. of London v. Hayes Construction Co.

The facts upon which this action is brought were agreed upon in the form of a written stipulation. The plaintiff seeks to recover premiums of insurance fixed by the Compensation Inspection Rating Board about eight months after the issuance of the policy, according to the Experience Rating Plan approved and adopted by the Superintendent of Insurance. The trial court ruled that the rate stated in the policy could not be increased during the life of the policy. The Appellate Division modified the judgment by allowing an increase, in the rate from the date of the increase. We are of the opinion…