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Does insurer owe coverage of unauthorized settlement?
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Court Report
Wednesday, April 22, 2015
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After a title insurer paid out millions in claims regarding a real estate fraud claim, it got into a dispute with the owners of property allegedly bought with proceeds from a fraudulent sale it insured. It sought coverage from its liability insurer, but rejected its insurer’s defense because it came with a reservation of rights. The parties to the dispute entered into a settlement enforceable against the liability insurer on the title insurer’s behalf. The liability insurer then filed suit against all parties to the agreement.
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