Underwriter, insured argue meaning of exclusion for ‘assumed or created’ matters

A bank gave a development company a loan to develop land in Georgia, despite the fact that there was no legal access to the property because the company assured the bank it would get an easement. When the company was unsuccessful in getting an easement and development stalled, it purchased the loan back and filed a claim with the title insurer. The title insurer denied the claim and the company filed suit. Read on to find out what the U.S. Circuit Court of Appeals for the 11th Circuit had to say when the case went before it on appeal.