Saturday, June 07, 2008
Nebraska Supreme Court reverses Douglas County District Court directed verdict that was in favor of the State of Florida Department of Insurance, receiver for an insolvent truck insurance company in its suit against insurance agency that used truckers' premiums to acquire other insurance when the insolvent insurer was unable to provide adequate coverage for the agency's customers. State of Florida v. Countrywide Truck Ins. Agency, S-06-1220, 275 Neb. 842 "The district court erred in granting a directed verdict in favor of Florida. Giving all reasonable inferences to Agency and Fulkerson, there is a question of fact whether a fraudulent transfer occurred between T ruck and Agency. T here is evidence that the transfer of $2,235,401 represented the amount held in the customer deposit account on behalf of T ruck’s insureds and that Agency used this money to purchase insurance for T ruck’s insureds. T here is no evidence of any other transfer."