Old Republic Seeks Return of $3.8 Million Reinsurance Payment, Alleging Fraud in the Inducement

TAMPA, Fla. — In a newly filed complaint, Old Republic National Title Insurance Co. (ORNTIC) is demanding return of a $3.8 million payment made under a reinsurance agreement that covered title insurance policies, alleging that the cedent fraudulently induced ORNTIC to enter into the agreement.

In a Jan. 22 complaint filed in the U.S. District Court for the Middle District of Florida, ORNTIC further accuses the cedent, First American Title Insurance Co. (FATICO), of breaching the reinsurance agreement by failing to provide the reinsurer with sufficient information as to the underlying claim.

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