Consolidated Underwriters v. Thomas Trucking Co.

ETHRIDGE, Chief Justice.

This is a suit by Consolidated Underwriters, plaintiff-appellant, against J. Cliff Thomas, Sr., and J. Cliff Thomas, Jr., defendants-appellees, on a sworn open account, seeking a judgment for insurance premiums alleged to be due on workmen’s compensation and fleet liability insurance policies for a period of approximately three years. These policies, issued by complainant, were based on a retrospective rating plan, by which the ultimate rate of premium is determined on the basis of loss ratios and other considerations developed during the policy periods. Defendants…