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Title insurers dispute responsibilities under reinsurance agreement
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Court Report
Tuesday, April 7, 2015
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Two national title insurers entered into a reinsurance agreement after one of them provided an owner and a lender title insurance policies to finance the acquisition of property and the construction of a power plant on that property. Later the buyer and lender made claims under the title policies because mechanic’s liens recorded against the property had priority over their interests in the property. The title insurer who provided the policies entered a settlement with the parties and sought repayment from the other insurer for the insurer’s proportionate share of the sum.
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