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FIRST INTERSTATE BANK v. ALLSTATE INS. CO.

Nos. A8305-03272; CA A31860.

701 P.2d 791 (1985)

74 Or.App. 1

FIRST INTERSTATE BANK of Oregon, N.A., Respondent, v. ALLSTATE INSURANCE COMPANY, an Illinois Corporation, Appellant.

Court of Appeals of Oregon.

Argued and Submitted February 20, 1985.

Attorney(s) appearing for the Case

I. Franklin Hunsaker, Portland, argued the cause for appellant. With him on the briefs were James L. Knoll, John P. Ashworth, and Bullivant, Houser, Bailey, Pendergrass, Hoffman, O'Connell & Goyak, Portland.

Lee C. Nusich, Portland, argued the cause for respondent. With him on the brief were E. Joseph Dean, and Stoel, Rives, Boley, Fraser & Wyse, Portland.

Before RICHARDSON, P.J., and WARDEN and NEWMAN, JJ.

RICHARDSON, Presiding Judge.

The defendant insurer appeals from a judgment for plaintiff in this action on a loss payable endorsement to an insurance policy. We affirm.

Plaintiff loaned Leonard and Linda Grill approximately $55,000 in connection with their purchase of a boat. As required by the security agreement between plaintiff and the Grills, the Grills insured the boat with defendant. In addition to the insurance policy's coverage of the Grills, it contains...

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