Commonwealth Insurance Agency, Inc. v. Arnold

WELBORN, Commissioner.

Plaintiff Commonwealth Insurance Agency and its president, plaintiff Walter A. Klein, filed an action for declaratory judgment against defendant Philip Arnold, who, on behalf of Underwriters at Lloyd’s London, had issued to plaintiffs a policy of “Errors and Omissions Insurance” for the operation of plaintiffs’ insurance business. The petition sought a declaration of defendant’s liability on the policy issued to plaintiffs as it related to a claim against them which was the subject of an action by the Golub Corporation and others against plaintiffs in the St. Louis…