American Aviation & General Insurance Company v. Georgia Telco Credit Union

RIVES, Circuit Judge.

This appeal involves the construction of‘ an insurance policy. Appellant issued to the appellee its policy captioned, “Credit Union Chattel Lien Non-Filing Insurance,” known ' in the trade more simply as- “non-recording” insurance,; de*207signed, subject to certain exclusions or exceptions, to compensate the appellee lender for its losses resulting solely from its failure to file for public record the instrument securing its debt, usually a bill of sale to secure debt, conditional sale contract, or chattel mortgage.

Appellee filed two claims under its policy based on two…