Perkins v. Washington Insurance , 1 Lock. Rev. Cas. 292 ( 1799 )

The Court of Errors reversed the decree and held that the company were bound to indemnify the insured, although the premium had not been received by them before the loss, and that the premium paid being according to their established rates, it did not lie with the company to say that they would not recognize the rate of premium or would not be satisfied with the risk, and they were accordingly decreed to indemnify the assured.