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NATIONAL SUR. CORP. v. RANGER INS. CO.

No. 00-2978.

260 F.3d 881 (2001)

NATIONAL SURETY CORPORATION, Plaintiff-Appellee, v. RANGER INSURANCE COMPANY, Defendant-Appellant.

United States Court of Appeals, Eighth Circuit.

Filed: August 13, 2001.

Attorney(s) appearing for the Case

Tony Raymond Krall, argued, Minneapolis, MN (E. Curtis Roeder, J. Robert Kenna, Glenn L. Smith and Jack Hilmes, on the brief), for appellant.

Paul Victor Esposito, argued, Chicago, IL (James T. Ferrini, Michael L. Foran and Jennifer M. Ellin, on the brief), for appellee.

Before McMILLIAN and LOKEN, Circuit Judges, and GOLDBERG, Judge of the United States Court of International Trade, sitting by designation.

LOKEN, Circuit Judge.

United Suppliers, Inc. ("United") suffered a loss of $1,806,738.09 when an above-ground storage tank collapsed at its Pacific Junction, Iowa facility, spilling liquid fertilizer. Responding to insurance claims, National Surety Corporation ("National") paid United $1,000,000, the policy limit under National's inland marine policy, which covered loss to liquid fertilizer from tank leakage or collapse. Ranger Insurance Company ("Ranger") paid United...

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