SC High Court's Damages Ruling Will Cost Title Insurers

Law360, New York (September 28, 2012, 8:15 PM EDT) -- The South Carolina Supreme Court put itself in the minority recently by ruling that actual loss under a title insurance policy can be calculated using property purchase price, not the property value when an irremovable title defect is found — a decision that will force insurers to pay more damages in the down real estate market, experts say.

The question sprang from a feud between title insurer Stewart Title Guaranty Co. and a Myrtle Beach, S.C.-area resident, and had been certified to the state high court...
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