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NEW YORK LIFE INS. CO. v. MILLER

No. 03-02-00523-CV.

114 S.W.3d 114 (2003)

NEW YORK LIFE INSURANCE COMPANY; New York Life Insurance and Annuity Corporation and Michael Coffey, Appellants, v. Phillip M. MILLER, Appellee.

Court of Appeals of Texas, Austin.

July 24, 2003.

Attorney(s) appearing for the Case

Jo Beth Eubanks, Pamela G. Matthews, Akin, Gump, Strauss, Hauer & Feld, L.L.P., San Antonio, for New York Life Insurance Company and Annuity Corporation.

Theodore J. Riney, Catherine C. Kays, Geary, Porter & Donovan, P.C., Addison, for Michael Coffey.

Travis R. Phillips, Brandon W. Beasley, Law Office of Travis R. Phillips, Austin, for Appellee.

Before Justices B.A. SMITH, PURYEAR and ABOUSSIE.

OPINION

BEA ANN SMITH, Justice.

This case involves a dispute between two life-insurance agents over a large commission. Michael Coffey, an agent of New York Life Insurance Company, was asked by financial advisors of the CEO of Mary Kay Cosmetics to help implement a complex set of estate-planning transactions that included a "split dollar conversion" of a $10 million New York Life term policy. This transaction generated a large commission for Coffey...

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