VEHICLE & GENERAL INSURANCE CO. LTD. v. ELMBRIDGE INSURANCES

[1973] 1 Lloyd's Rep. 325

MAYOR'S AND CITY OF LONDONCOURT

Before His Honour Judge Graham Rogers

Agency - Insurance brokers - Money received by brokers on behalf of insurers - Liquidation of insurers - Termination of clients' policies by brokers - Claim by liquidator for monies received - Effect of agency agreement between brokers and insurers that all monies received on behalf of insurers were property of and received for and on account for insurers - Whether agreement based on fact that insurers were solvent at date of agreement - Whether brokers could counterclaim for pro rata returns of clients' premiums - Whether agreement ended by liquidation.