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FEDERAL INS. CO. v. CENTURY FED. S. & L.

No. 19409.

824 P.2d 302 (1992)

114 N.M. 162

FEDERAL INSURANCE COMPANY, Plaintiff-Appellee, v. CENTURY FEDERAL SAVINGS & LOAN ASSOCIATION, Defendant-Appellant.

Supreme Court of New Mexico.

January 10, 1992.

Attorney(s) appearing for the Case

Carpenter, Crout & Olmsted, Michael R. Comeau, Stephen J. Lauer, and Jones, Snead, Wertheim, Rodriguez & Wentworth, James E. Snead, III and Francis J. Mathew, Santa Fe, for defendant-appellant.

Bosson & Canepa, Richard C. Bosson and Brian E. Fitzgerald, Santa Fe, for plaintiff-appellee.

OPINION

MONTGOMERY, Justice.

This is an insurance coverage dispute between a bank and an insurance company. The bank, Century Federal Savings & Loan Association ("Century") in Santa Fe, New Mexico, was the insured under a "Financial Institutions Insurance Coverage" policy ("the policy") issued by Federal Insurance Company ("Federal"). The dispute centers primarily around the portion of the policy entitled "Mortgage Holder's Insurance," which insured...

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