This case is yet another reminder that the escrowee or closer can face significant liability if it fails to bind or permanently secure insurance as instructed.
Chicago Title Ins. Co. v. AMZ Ins. Services, Inc., 188 Cal.App 4th 401, 115 Cal, Rptr.3d 707, 10 Cal Daily Op. Serv 11, 923, 2010 Daily Journal D. A.R. 14, 367 (Ct.App 4th Dist 2010) November Title Insurance Law Newsletter – Escrow