Old Republic's Negligence Claim Stands In Reinsurance Row
Law360, New York (March 25, 2015, 9:31 PM EDT) -- A Florida federal judge on Wednesday refused to toss reinsurer Old Republic National Title Insurance Co.'s negligence claim against First American Title Insurance Co. in a dispute over Old Republic's $3.8 million payment toward a $41 million settlement of mechanic's liens claims lodged against coal plant operator Longview Power LLC.
Old Republic sufficiently pleaded that First American had a duty, independent of the parties' reinsurance agreement, to underwrite the title policies at issue in a "reasonably prudent manner," U.S. District Judge James Moody Jr. said.
"Old Republic’s assertion that this duty 'arises from a social policy in law and industry custom'...
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