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SEATTLE FUR EXCHANGE v. FOREIGN CREDIT INS.

No. 91-36171.

7 F.3d 158 (1993)

SEATTLE FUR EXCHANGE, INC., a Washington corporation, Plaintiff-Appellant, v. FOREIGN CREDIT INSURANCE ASSOCIATION, and its member companies: American Credit Indemnity Co. of New York; Hartford Accident & Indemnity Company; Liberty Mutual Insurance Company; The Travelers Indemnity Company; U.S. Export/Import Bank; and First Interstate Bank of Oregon, N.A., a National banking association, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided October 8, 1993.

Attorney(s) appearing for the Case

John S. Riper, Stanislaw, Ashbaugh, Chism, Jacobson & Riper, Seattle, WA, for plaintiff-appellant.

Daniel E. Loeb, Fried, Frank, Harris, Shriver & Jacobson, Washington, DC, John D. Wilson, Jr., Wilson, Smith, Cochran & Dickerson, Seattle, WA, for defendants-appellees.

Before: BRUNETTI, LEAVY, and TROTT, Circuit Judges.

LEAVY, Circuit Judge:

The issue before us is whether there must be strict compliance with the terms and conditions of an insurance policy where a federal agency, the Export-Import Bank of the United States ("Eximbank"), has agreed to cover losses from exporting in the event of insolvency of a private insurer. We hold that under these circumstances, there must be strict compliance.

Seattle Fur Exchange ("Seattle Fur") conducts a fur exchange business in which...

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