Insurance Company v. Webster was a case heard by the United States Supreme Court in 1867. The case involved a dispute between an insurance company and a policyholder, Webster, over the terms of a life insurance policy. Webster had taken out a policy with the insurance company, but the company refused to pay out the benefits when Webster died. The insurance company argued that Webster had failed to pay the premiums on the policy, and thus the policy was void. Webster's estate argued that the insurance company had failed to provide notice of the missed payments, and thus the policy was still valid. The Supreme Court ultimately sided with Webster's estate, ruling that the insurance company had failed to provide proper notice of the missed payments. The Court held that the insurance company was obligated to provide notice of the missed payments, and that the policy was still valid. The Court also held that the insurance company was liable for the full amount of the policy benefits. This ruling established the precedent that insurance companies must provide notice of missed payments in order to void a policy.

In Insurance Company v. Webster, the Supreme Court was asked to decide whether a policy of insurance issued by an insurance company in New York was valid and enforceable in Massachusetts. The majority opinion held that the policy was not valid because it had been issued without authority from Massachusetts law. However, Justice Field dissented from this decision on two grounds: first, he argued that the contract should be enforced according to its terms; second, he argued that if there were any legal impediments preventing enforcement of the contract then those impediments should have been raised before or during litigation rather than after judgment had already been rendered. In conclusion, Justice Field believed that since no objections were made prior to judgment being entered against Insurance Company for breach of contract they could not now raise such objections as a defense against liability for damages caused by their breach.