Robinson v. Guarantee Trust Life Insurance

PICKERING, Circuit Judge:

FACTS AND PROCEEDINGS BELOW

Plaintiffs were selling agents for Commonwealth National Life Insurance Company (“Commonwealth”) when Commonwealth entered into an Assumption Reinsurance Agreement (the “Reinsurance Agreement”) with Guarantee Trust Life Insurance Company (“GTL”) on January 1, 1996. Under the Reinsurance Agreement, GTL assumed all of Commonwealth’s medicare supplement policies in Mississippi and Commonwealth’s obligation to pay continuing commissions on existing policies to the qualifying selling agents. At the time the Reinsurance Agreement was executed, the…