Felix Frankfurter

Name: Osborn v. Ozlin — Opinion of the Court
Author: Felix Frankfurter

Summary

“Osborn v. Ozlin — Opinion of the Court”, is a work by Felix Frankfurter. It explores elements such as Virginia, insurance and broker.

Quotes from Osborn v. Ozlin — Opinion of the Court (Felix Frankfurter)

Felix Frankfurter, Osborn v. Ozlin — Opinion of the Court

“ For it is clear that Virginia has a definable interest in the contracts she seeks to regulate and that what she has done is very different from the imposition of conditions upon appellants' privilege of engaging in local business which would bring within the orbit of state power matters unrelated to any local interests. It is not our province to measure the social advantage to Virginia of regulating the conduct of insurance companies within her borders insofar as it affects Virginia risks. Government has always had a special relation to insurance. ”

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Source: Wikisource

Felix Frankfurter, Osborn v. Ozlin — Opinion of the Court

“ By force of the statute a Virginia agent must countersign a contract negotiated outside of Virginia with an assured whose residence is outside of Virginia, which contract of insurance was negotiated by an agent or broker living outside of Virginia. The countersigning Virginia agent must be paid one-half the usual commission, even though the broker or agent who produced the business is licensed as a non-resident broker by Virginia, although the only service such Virginia agent is required to render and, in many cases all he does render, is the mere countersignature of the policy. ”

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Source: Wikisource

Felix Frankfurter, Osborn v. Ozlin — Opinion of the Court

“ The broker, on the other hand, is an independent middleman, not tied to a particular company. He meets more specially the needs of large customers, using their concentrated bargaining power to obtain the most favorable terms from competing companies. His activities, being largely confined to the big commercial centers, take place mostly outside Virginia.
A policy, whether 'produced' by broker or agent, must be 'serviced'-an insurance term for assistance rendered a customer in minimizing his risks. ”

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Source: Wikisource

Felix Frankfurter, Osborn v. Ozlin — Opinion of the Court

“ In effecting the cost of these master policies, say the appellants, Virginia is intruding upon business transactions beyond its borders. Not only is a licensed company forbidden to write insurance except through a resident agent, but the agent cannot retain less than one-half of the customary commission allowed on such a contract for what may, so far as the requirements of the law are concerned, be no more than the perfunctory service of countersigning the policy. ”

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Source: Wikisource

Felix Frankfurter, Osborn v. Ozlin — Opinion of the Court

“ For them the brokerage system offers the attractions of large-scale production. Through what is known as a master or 'hotchpotch' policy, the assured may obtain a cheaper rate by pooling all his risks, whether in or out of Virginia. This wholesale insurance may furnish not only a reduced rate but a reduced commission to the customer. These are advantages which naturally draw the Virginia business of interstate enterprises away from local agents in Virginia to the great insurance centers. ”

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Source: Wikisource

Felix Frankfurter, Osborn v. Ozlin — Opinion of the Court

“ She merely claims that her interest in the risks which these contracts are designed to prevent warrants the kind of control she has here imposed. This legislation is not to be judged by abstracting an isolated contract written in New York from the organic whole of the insurance business, the effect of that business on Virginia, and Virginia's regulation of it.
A network of legislation controls the surety and casualty business in Virginia. Insolvent companies may not engage in it. Virginia Code, § 4180. Neither companies nor agents may give rebates. ”

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Source: Wikisource

Felix Frankfurter, Osborn v. Ozlin — Opinion of the Court

“ Great Atlantic & Pacific Tea Co. v. Grosjean, 301 U.S. 412, 57 S.Ct. 772, 81 L.Ed. 1193, 112 A.L.R. 293. Compare Equitable Life Assur. Society v. Pennsylvania, 238 U.S. 143, 35 S.Ct. 829, 59 L.Ed. 1239. ”

Felix Frankfurter

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Quotes from Osborn v. Ozlin — Opinion of the Court (Felix Frankfurter)

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