Great Northern Insurance Company, a Minnesota Corporation v. Benjamin Franklin Federal Savings & Loan Association

953 F.2d 1387 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. GREAT NORTHERN INSURANCE COMPANY, a Minnesota corporation, Plaintiff-Appellee, v. BENJAMIN FRANKLIN FEDERAL SAVINGS & LOAN ASSOCIATION, Defendant-Appellant. No. 90-35654. United States Court of Appeals, Ninth Circuit. Argued and Submitted Nov. 6, 1991. Decided Jan. 31, 1992. Before TANG, O'SCANNLAIN and RYMER, Circuit Judges. 1 MEMORANDUM * 2 The Benjamin Franklin Federal Savings and Loan Association ("Benj. Franklin") appeals the district court's grant of a declaratory judgment that its insurance policy with Great Northern Insurance Company ("Great Northern") did not cover Benj. Franklin's loss. 3 * In this diversity suit, we apply Oregon law to the straightforward process of interpreting a contract of insurance coverage. 1 See Okada v. MGIC Indem. Corp., 823 F.2d 276 , 280 (9th Cir.1986). Insurance policies are construed as ordinary business contracts under Oregon law. Cf. Perez v. State Farm Ins., 613…