Court of Appeals for the Fifth Circuit August 5, 2002, 01-20106 (Parkans International LLC v. Zurich Insurance)

DENNIS, Circuit Judge,

dissenting:

To the detriment of the insured, the majority gives the terms of this insurance policy their technical, rather than popular, meaning. Because this method of interpretation contravenes established canons of Texas insurance law, I respectfully dissent.

I.

The threshold question is whether Par-kans’s letter of credit is a “covered instrument.