Nicholas v. New England International Surety of America, Inc.

GRISBAUM, Judge.

This appeal relates to a suit for payments allegedly due under an insurance policy for the sinking of a vessel. We vacate and set aside.

ISSUE

Whether the trial court erred in finding that the insurance policy at issue was not an “ocean marine” policy and was, therefore, covered by the Louisiana Insurance Guaranty Association.

FACTS

On December 11,1987, the plaintiff, Horace Nicholas, purchased a 37-foot vessel from Philip Verdin. He then purchased, on February 26, 1988, from New England International Surety of America, Inc. (New England), an insurance policy covering the vessel.…