In re The Louisville Underwriters was a Supreme Court case that was decided in 1895. The case involved a dispute between the Louisville Underwriters, a group of insurance companies, and the state of Kentucky. The Underwriters had refused to pay a tax imposed by the state on their business, arguing that the tax was unconstitutional. The Supreme Court ultimately sided with the Underwriters, ruling that the tax was unconstitutional and that the state had no authority to impose it. The Court held that the tax was a violation of the Due Process Clause of the Fourteenth Amendment, as it was an unreasonable burden on interstate commerce. The decision was a major victory for the Underwriters, as it allowed them to continue to operate without the burden of the tax. The case also established the principle that states cannot impose taxes on interstate commerce without the approval of Congress.

In the dissenting opinion of In Re The Louisville Underwriters, Petitioners, Justice Field argued that the majority's decision was in conflict with a long line of Supreme Court precedent. He noted that prior cases had established a clear principle: when an insurance company is insolvent and unable to pay its debts, it must be placed into liquidation so as to protect creditors from loss. By allowing for reorganization instead of liquidation in this case, he argued that the majority had departed from this well-established rule without any justification or explanation. Furthermore, he contended that such a departure would create uncertainty and confusion among insurers who could not predict whether they would be allowed to reorganize or forced into liquidation if they became insolvent. Ultimately then, Justice Field concluded by arguing against the majority's decision on both legal and practical grounds.