MS Ins. Guaranty Association v. Goldin Properties
| Docket Number: | 2003-CA-01654-COA Linked Case(s): 2003-CT-01654-SCT2003-CA-01654-COA |
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| Oral Argument: | 05-12-2004 | |
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| Court of Appeals: |
Opinion Date: 07-20-2004 Opinion Author: BRIDGES, P.J. Holding: Reversed and Rendered |
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| Additional Case Information: |
Topic: Insurance - Mississippi Insurance Guaranty Association - Insolvent insurer - Section 83-23-109(g) Judge(s) Concurring: KING, C.J., SOUTHWICK, P.J., LEE, IRVING, MYERS, CHANDLER AND GRIFFIS, JJ. Procedural History: Summary Judgment Nature of the Case: CIVIL - REAL PROPERTY |
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| Trial Court: |
Date of Trial Judgment: 07-07-2003 Appealed from: Harrison County Circuit Court Judge: Stephen Simpson Disposition: SUMMARY JUDGMENT IN FAVOR OF GOLDIN PROPERTIES, INC. |
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| Party Name: | Attorney Name: | |||
| Appellant: | MISSISSIPPI INSURANCE GUARANTY
ASSOCIATION |
LAWRENCE CARY GUNN |
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| Appellee: | GOLDIN PROPERTIES, INC. | PAUL J. DELCAMBRE |
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Synopsis provided by:  If you are interested in subscribing to the weekly synopses of all Mississippi Supreme Court and Court of Appeals hand downs please contact Tammy Upton in the MLI Press office. |
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| Topic: | Insurance - Mississippi Insurance Guaranty Association - Insolvent insurer - Section 83-23-109(g) |
| Summary of the Facts: | Goldin Properties, Inc., filed a complaint seeking a declaratory judgment against Mississippi Insurance Guaranty Association requesting that MIGA cover the insurance policies issued by Reliance Insurance Company of Illinois. Goldin alleged that Reliance Insurance Company of Illinois had merged into Reliance Insurance Company and the latter was licensed and covered by the Guaranty Association Law and due to the latter’s insolvency MIGA should be held liable. Both parties filed a motion for summary judgment. The court granted Goldin’s motion for summary judgment and MIGA appeals. |
| Summary of Opinion Analysis: | All other sources of insurance must be exhausted before looking to MIGA for any coverage. An “insolvent insurer” as defined by section 83-23-109(g) is an insurer licensed to transact insurance in this state either at the time the policy was issued or when the insured event occurred and against whom an order of liquidation with a finding of insolvency has been entered by a court of competent jurisdiction. The controlling factor is the insolvency of the insurance company after the effective date of the act and not when the claims arose. The claim in this case cannot be brought under this MIGA act since Reliance Insurance Company of Illinois was a non-member of MIGA at all times during this action. It would be inequitable for Goldin to recover from a fund when no assessment from the policy issued to him was ever collected by the MIGA. |
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