SMITH, J., March 3, 1992.
This is a case where an insurance broker failed to remit a portion of insurance premiums paid to him by the insured. He failed to forward over $35,000 to the exclusive agent of the insurance carrier, which actually amounted to most of the agent's commission. The issue in the case is whether the insured or the agent of the carrier is liable for the missing money. We find that the agent must bear the loss for the money. As such, we make...
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