Seafirst Commercial Corporation v. United States Fidelity and Guaranty Company

ROBERT MADDEN HILL, Circuit Judge:

Plaintiff-appellant Seafirst Commercial Corporation (Seafirst) appeals from a summary judgment in favor of defendant-appel-lee United States Fidelity & Guaranty Company (USF & G) in this Louisiana law diversity case. We affirm.

I

Seafirst was a mortgagee of RTL Corporation and its related companies (collectively RTL) under a chattel mortgage on a crane. The terms of the chattel mortgage required RTL to provide insurance satisfactory to Seafirst and that the insurance policy name Seafirst as a joint loss payee. On January 1, 1982, USF & G issued a policy of…