Capitol Indemnity Accuses Agent of Withholding $2 Million in Premiums

MADISON, Wis. - Capitol Indemnity Corp. has sued its former agent, alleging that it has collected but failed to remit more than $2 million in premiums that were due by April 15. Capitol Indemnity Corp., et al., v. Axiom Insurance Managers Agency, No. 11-314 (W.D. Wis.).

In an April 29 complaint filed in the U.S. District Court for the Western District of Wisconsin, Capitol Indemnity Corp. seeks an injunction ordering Axiom Insurance Managers Agency to allow an audit of its records pending the formation of an arbitration panel that can address Capitol's claims in an arbitration proceeding.

According to the …