Saul Ewing Attorneys featured in article on insurance ruling
Saul Ewing attorneys Matthew Haar, Trip Riley and Cory Winter, are featured in this article in The Legal Intelligencer about a recent ruling in an insurance case. The article reports that the Pennsylvania Superior Court has ruled that a bank's title insurance policy does not cover losses due to misappropriated funds when the insurer was not involved in the transfer of funds. This ruling comes from a dispute between Northwest Savings Bank, The Closing Company of Pennsylvania and Fidelity National Title Insurance Company over a situation where funds from a housing mortgage loan agreement were misappropriated.
In response to the court’s decision, Trip said, “The court's decision shows a recognition that the title's underwriter is not always in the best position to protect against fraud.” Matt also mentions in the article that “even though the Superior Court decision is not precedential, it provides guidance in an area where there is very little authority.”
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