Bunker Hill Mutual Insurance v. Leslie

Opinion by

Me. Justice Musmanno,

On September 27,1954, the Insurance Commissioner of Pennsylvania suspended the business operations of the Bunker Hill Mutual Insurance Company because its books failed to show that it had set up a reserve for unearned premiums on its non-assessable fire insurance policies, which liability, had it appeared on the books, would have resulted in a Company deficit of $118,498-.75. On October 1, 1954, the Company sought to restrain the enforcement of the suspension order by filing a Bill in Equity to that purpose. The Commonwealth filed a responsive Answer. Since no…