Massachusetts Bonding & Insurance v. Home Life & Accident Co.
Supreme Court of Arkansas
Appeal from Pulaski Chancery Court; John E. Martinecm, Chancellor; The bond in force at the time the policies were can-celled is the only one liable to the insured.
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Appeal from Pulaski Chancery Court; John E. Martinecm, Chancellor; The bond in force at the time the policies were can-celled is the only one liable to the insured. Even though policies were written during the term of appellant’s bond between March 1, 1912, and March 1, 1913, the claims for unearned premiums arose and accrued after March 1, 1913, and the appellee, Home Life & Accident Company, only is liable. 91 Ark.- 43-51; 76 Ark. 410; 115 Fed. 69; 97 Ark. 553. The liability of a surety is not to be extended by-implication beyond the terms of its contract. 24 How. 315, 16 Law. Ed. 689; 17…
1Opinion of the CourtMcCulloch, C. J.
The American Union Fire Insurance Company of Philadelphia became insolvent and was placed in the hands of a receiver by the courts of its domicile in March, 1913, and at that time it was liable to policy holders in this State for return premiums and fire losses. The company had been doing business in the State for several years and had given, and annually renewed, its bond as required by statute.
The issue in this case relates to the liability on the successive bonds, the particular question being which bond is liable, whether it is the bond covering the period during which- the policies were…
2Cases cited3 opinions
- Crawford v. Ozark InsuranceSupreme Court of Arkansas · 1911
- United States Fidelity & Guaranty Co. v. FultzSupreme Court of Arkansas · 1905
- American Insurance v. HaynieSupreme Court of Arkansas · 1909
3Cited by4 opinions
- Massachusetts Bonding & Insurance v. Home Life & Accident Co.Supreme Court of Arkansas · 1915
- American Indemnity Co. v. ReedSupreme Court of Arkansas · 1935
- Fidelity Deposit Co. of Maryland v. FrazierSupreme Court of Arkansas · 1935
- New Amsterdam Casualty Co. v. SquiresSupreme Court of Arkansas · 1934