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PREMIUM FINANCE CO. v. EMPLOYERS REINSURANCE CORP.

Civ. A. No. 89-1240.

745 F.Supp. 375 (1990)

PREMIUM FINANCE COMPANY, INC., Thomas M. Wright and Robert L. Wright, Sr. v. EMPLOYERS REINSURANCE CORPORATION.

United States District Court, W.D. Louisiana, Alexandria Division.

March 28, 1990.

Attorney(s) appearing for the Case

E. Keith Carter, James Charles McMichael Jr., Blanchard, Walker, Oquin & Roberts, Shreveport, La., and Nelson M. Lee, Bunkie, La., for plaintiffs.

Seale, Smith, Zuber & Barnette, James H. Morgan, III and William C. Kaufman, III, Trial Attys., Baton Rouge, La., and Stafford, Stewart & Potter, Larry A. Stewart, Alexandria, La., for defendant.

RULING

LITTLE, District Judge.

As its name implies, Premium Finance Company, Inc. loans money to would-be insureds so they can acquire or retain insurance. Premium was approached by Andre Coco as chief operating officer of the Edgar Coco Agency, Inc., a general insurance agent, to arrange financing for some of the Coco Agency customers. Andre Coco submitted seemingly valid paperwork to Premium and based on that seemingly valid documentation Premium advanced...

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