CALIF. INDEM. INS. PREMIUM FIN v. FIREMAN'S FUND

Docket No. A068421.

40 Cal.App.4th 1633 (1995)

47 Cal. Rptr.2d 743

CALIFORNIA INDEMNITY INSURANCE PREMIUM FINANCE COMPANY, Plaintiff and Appellant, v. FIREMAN'S FUND INSURANCE COMPANY, Defendant and Respondent.

Court of Appeals of California, First District, Division Five.

December 13, 1995.


Attorney(s) appearing for the Case

COUNSEL

Raymond A. Greenberg, Todd F. Haines and Joshua N. Willis for Plaintiff and Appellant.

Bruce K. Denebeim as Amicus Curiae on behalf of Plaintiff and Appellant.

Ewell & Levy, Arthur D. Levy and Douglas Cole Grijalva for Defendant and Respondent.


OPINION

PETERSON, P.J.

This appeal raises a difficult legal issue from the arcane world of insurance premium financing. When an insurance agent arranges a fraudulent insurance premium financing transaction for an insured which purports to be — but is not — authorized or ratified by the insured, is the risk of liability for the insured's subsequent loss of premium borne by

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