Morris v. Investment Life Ins. Co. of America

In 1961, The American Life Insurance Company (hereafter called ALIA), a fraternal benefit insurance association organized under the laws of the state of Connecticut, was in difficulties because of its high expenses and. was told by the Commissioner of Insurance for Connecticut to do something about it — with perhaps an implied threat of impending receivership. At the same time the Investment Life Insurance Company of America, an Ohio stock life insurance company (hereafter called ILICA), was having troubles in Ohio. It had started in 1959 and. sustained consistent losses. Hence ILICA was…