ALBANY INS. CO. v. STEPHENS

No. 94-CA-571-MR.

926 S.W.2d 460 (1995)

ALBANY INSURANCE COMPANY; Atlas Assurance Company of America; Central National Insurance Company of Omaha, in Rehabilitation (previously known as Central National Insurance Company of Omaha); and Guarantee Insurance Company, Appellants, v. Don W. STEPHENS (Commissioner of Insurance for the Commonwealth of Kentucky as Liquidator for Delta America Re Insurance Company); Finland General Insurance Company, Limited, a/k/a Finnish Industrial and General Insurance Company, Limited; Universal Re-insurance Corporation; Irish National Insurance Company; Syndicate 33, I.N. Thompson, Syndicate of Lloyds of London; Orion Insurance Company; G.E. Oatley Underwriting Agencies, Limited; Transport Industries Insurance Companies, Limited; Mercantile Mutual Holdings, Limited; Vanguard Insurance Company; Southern Pacific Insurance Company, Limited; PWS Group; Hansa Marine Insurance Company (UK) Limited/Vesta (UK) Insurance Company, Limited, as underwritten for/by London Scandinavian Underwriters, Inc.; Guardian Royal Exchange Assurance Company, Limited; Continental Insurance Company; and Fremont Indemnity Company, Appellees.

Court of Appeals of Kentucky.

Case Ordered Published by Court of Appeals December 15, 1995.

Discretionary Review Denied by Supreme Court August 21, 1996.


Attorney(s) appearing for the Case

David A. Brill, Jan M. West, Goldberg & Simpson, Louisville (briefed) and David A. Brill, Goldberg & Simpson (argued), Louisville, for Appellants.

Kevin M. McGuire, Shannon M. Johnson, Jackson & Kelly, Lexington, William F. Costigan, Andrew J. Costigan, Costigan & Berns, New York City (briefed), and Jacqueline S. Duncan, Jackson & Kelly, Lexington (argued), for Appellee Don W. Stephens.

Before LESTER, C.J., and JOHNSTONE and WILHOIT, JJ.


OPINION

JOHNSTONE, Judge.

The single question to be resolved in this appeal is whether KRS 304.33-330 precludes appellants from setting off premiums owed the estate of Delta America Re Insurance Company, a company in liquidation, against losses owed by Delta to appellants. The trial judge concluded that appellants were not entitled to the requested set-off, upholding the liquidator's partial rejection of appellants' proofs of claim. Finding no error...

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