Third National Bank v. Continental Insurance

On May 25, 1978, the Third National Bank of Hampden County (bank) filed this action in the Springfield District Court against the Continental Insurance Company (Continental). The bank, alleging that Continental had failed to pay it $3,988.82 (representing proceeds of an insurance policy on a lost automobile in which the bank held a perfected security interest), sought to recover that amount on the theories of negligence and conversion. Continental brought a third-party action against Gerald F. Parker & Son, Inc. (Parker), and R. J. Saex Insurance Agency, Inc. (Saex), claiming that, if…