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Bank, insurer dispute applicability of Exclusion 3(a) in coverage dispute
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Court Report
Tuesday, August 19, 2014
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After discovering a prior loan on a property it held a mortgage on, a bank filed a claim with its title insurer, which the title insurer denied because the lien was excluded from coverage under Exclusion 3(a). After the prior mortgage was foreclosed upon, the bank filed another claim. The title insurer denied the claim again and the bank filed suit against the insurer. Both parties eventually filed motions for summary judgment.
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