McFarling v. Mayfield

DIES, Chief Justice.

Appellees were injured in an automobile collision and subsequently recovered judgment against Spiller Butane Co. Spiller’s truck was covered by a policy of liability insurance issued by Dealers National Insurance Company. At the time of the accident Dealers had an excess of loss reinsurance agreement with Transport Insurance Company wherein the latter agreed to indemnify Dealers for its net loss in excess of $50,000 on any one occurrence covered by its outstanding automobile bodily injury liability and automobile property damage liability insurance policies.

In October,…