Insurance court dismissed claim for payment of interest on overdue policy premiums due to lack of statutory basis.

The Insurance Court dismissed the applicant's claim for interest on overdue life insurance premiums. The applicant argued that interest should accrue from the date of default under general contract principles, while the insurer contended that no statutory provision mandates such interest for premium arrears. The court ruled that without explicit legislative authorization, the insurer is not obligated to pay interest on late premiums.