Premium Calculation Methodology Set Forth in CGL Policy Wasn't Ambiguous, Court Rules

The Mississippi Court of Appeals ruled that language in a carrier's policy indicating that an insured's premiums would be calculated in accordance with the carrier's unspecified "rules and rates" was not ambiguous. Case: Piercon v. Brierfield Insurance Co., No. 2014-CA-01603-COA, 04/19/2016, published. Facts: Dennis Pierce owns an operates two construction businesses, Dennis Pierce Inc. and PierCon Inc. He obtained commercial general liability policies for both companies from the Brierfield Insurance Co. The policies required Pierce to pay an "advance premiu...