Hoyle v. Utica Mutual Insurance

TROUT, Chief Justice.

Richard W. Hoyle (“Hoyle”) and Hoyle & Associates Insurance, Inc. (“HAII”) appeal the district judge’s order granting summary judgment in favor of Utica Mutual Insurance Company (“Utica”) and Employers Reinsurance Corporation (“ERC”).

I

FACTUAL AND PROCEDURAL BACKGROUND

HAII is an insurance ageney/brokerage firm formed by Hoyle in 1979. On January 1, 1996, HAII entered into an Asset Purchase Agreement "with First Security Insurance, Inc. (“FSI”) whereby FSI agreed to acquire substantially all of the assets of HAII. Under the Asset Purchase Agreement, FSI essentially operated…