Grinnell Mutual Reinsurance Co. v. Walters

Trevor and Trenton Best, John and Tammy Best’s children, were passengers in a boat that collided with another boat piloted by William Logston. Trevor died and Trenton was injured. Logston was insured by Grinnell Mutual, which filed this interpleader action to determine the distribution of the insurance proceeds among the various claimants. Grinnell Mutual deposited the policy limits into the registry of the court. While the suit was pending, interest accumulated.

The parties eventually reached agreement on distribution of the insurance proceeds, and the accumulated interest, to at least 12…