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OLD SOUTHERN LIFE INS. v. ALABAMA INS. DEPT.

Civ. 5124.

503 So.2d 849 (1986)

OLD SOUTHERN LIFE INSURANCE COMPANY v. ALABAMA INSURANCE DEPARTMENT.

Court of Civil Appeals of Alabama.

Rehearing Denied June 18, 1986.

Attorney(s) appearing for the Case

George Beck and Jeffery H. Long of Baxley, Beck, Dillard & Dauphin, Montgomery, for appellant.

Phillip E. Stano, Gen. Counsel, Alabama Dept. of Ins., for appellee.

BRADLEY, Judge.

This case involves an appeal by Old Southern Life Insurance Company (Old Southern) from the Montgomery County Circuit Court's order affirming Alabama Insurance Department's (Department's), order requiring Old Southern to recognize a $378,000 law suit settlement as a liability on its 1982 financial report.

The $378,000 liability in question arose from a settlement of a judgment rendered against Old Southern on behalf of a policyholder, William...

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