Seventh Circuit Finds Insured Owners Suffered No Loss Under Title Insurance Policy After Insurer Settled With Lender

The United States Court of Appeals for the Seventh Circuit recently affirmed a district court’s grant of summary judgment to a title insurer denying the insured owners’ claim for coverage under a title insurance policy, finding that the insureds suffered no loss because the insurer reached a settlement with the lender and the insureds no longer owed any money on their loan.

Supreme Court of Arizona Holds Lender’s Diminution-in-Value Loss Required to Be Calculated as of the Date the Policy Was Issued Rather Than Date of Foreclosure

In a significant decision for both the title and banking industries, the Arizona Supreme Court recently held that the diminution-in-value loss under a lender’s title insurance policy could be calculated by the date that the policy was issued, rather than the date of foreclosure, if the court determines the title defect caused the borrower to default.