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LIFE & CAS. INS. v. CENTRAL STEEL PRODUCTS

709 S.W.2d 830 (1985)

LIFE & CASUALTY INSURANCE COMPANY OF TENNESSEE, Appellant, v. CENTRAL STEEL PRODUCTS, INC., Appellee.

Court of Appeals of Kentucky.

Rehearing Denied March 14, 1986.

Discretionary Review Denied and Opinion Ordered Published by Supreme Court June 3, 1986.

Attorney(s) appearing for the Case

Roy Kimberly Snell, Robert G. Breetz, Stites & Harbison, Louisville, G.D. Milliken, Jr., Milliken & Milliken, Bowling Green, John B. Allyn, American General Companies, American General Center Nashville, Tenn., for appellant.

Steven D. Downey, Hixon & Downey, Bowling Green, for appellee.

Before HAYES, C.J., and HOWARD and WHITE, JJ.

HOWARD, Judge.

Life & Casualty Insurance Company appeals from a judgment holding it liable under a life insurance policy for compensatory and punitive damages.

Douglas Downey and Elliott Rutherford were the president and vice-president of Central Steel Products which owned life insurance policies on the two officers. Central Steel paid the premiums and was listed as the beneficiary on both policies. In 1977, the policy amounts were $200,000 on Downey and...

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