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SEAATTLE-FIRST NAT'L BANK v. WASH. INSURANCE GUARANTY ASS'N

No. 56376-4.

116 Wn.2d 398 (1991)

804 P.2d 1263

SEATTLE-FIRST NATIONAL BANK, ET AL, Appellants, v. WASHINGTON INSURANCE GUARANTY ASSOCIATION, Respondent.

The Supreme Court of Washington, En Banc.

February 14, 1991.

Attorney(s) appearing for the Case

Robert L. Wilson and Karr Tuttle Campbell, for appellants.

Arnold J. Barer, for respondent.

ANDERSEN, J.

FACTS OF CASE

This case involves "residual value insurance", a relatively new and highly specialized type of business-related insurance. At issue is whether the trial court properly characterized residual value insurance as surety insurance that is not protected by the Washington Insurance Guaranty Association Act, RCW 48.32. We hold that the trial court erred, and reverse and remand.

In August 1981, Seattle First National Bank (Sea...

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