Security Life Ins. Co. of Am. v. St. Paul Fire & Marine Ins. Co.

The Court of Appeals erred in ruling that an Unliquidated Damages Interest Act, O.C.G.A. § 51-12-14 UDIA, determination should be made on an award of compensatory damages augmented by a variety of other awards.

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Upon consideration of the Motion for Reconsideration filed in this appeal, it is ordered that the opinion of the Court in the above-styled case issued on November 22, 2004, is vacated, the opinion withdrawn from the files, and a new opinion issued in this case. It is ordered that the September Term of this Court is extended until further order of the Court to enable the parties to file a motion for reconsideration within 10 days of the filing date of the new opinion. OCGA § 15-2-4; Haygood v. City of Doraville , 256 Ga. 566, 567 1986.

To examine the process by which entitlement to pre-judgment interest is determined under the Unliquidated Damages Interest Act, OCGA § 51-12-14 UDIA, we granted the writ of certiorari to review the judgment of the Court of Appeals in Security Life Ins. Co. v. St. Paul Marine & Fire Ins. Co. , 263 Ga. App. 525 588 SE2d 319 2003. This is the eighth appellate appearance of this litigation which stemmed from an act of forgery by an agent of Security Life Insurance Company SLIC on an application for an insurance policy in 1994.1 As the surety on SLIC’s appeal bond in its efforts to contest its liability to the plaintiffs, the insureds under the policy issued pursuant to the forgery, St. Paul Fire & Marine Insurance Company SPF&M paid to the plaintiffs the amount of the most recent judgment rendered by the trial court and was substituted for them on appeal.

Security Life Ins. Co. of Am. v. St. Paul Fire & Marine Ins. Co.

The Court of Appeals erred in ruling that an Unliquidated Damages Interest Act, O.C.G.A. § 51-12-14 UDIA, determination should be made on an award of compensatory damages augmented by a variety of other awards.

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