Koral Industries v. Security-Connecticut Life Insurance Co.

Security-Connecticut Life Insurance Company, claiming fraudulent inducement and misrepresentation, refused to pay benefits under a key-man life insurance policy when the insured died. The beneficiary, Koral Industries, filed suit for breach of contract. After trial to a jury, Koral was awarded the face value of the policy, damages, statutory penalties, 1 postjudgment interest, and attorney’s fees for trial and appeal. The trial court rendered a take nothing judgment on Security’s counterclaims. The court of appeals reversed and rendered judgment that Koral take nothing on all of its claims…