Fireman's Fund Insurance v. Puget Sound Escrow Closers, Inc.

After Daniel and Pamela Paris obtained a default judgment against Puget Sound Escrow Closers, Inc., for damages resulting from an inadequately secured loan that the Parises made to Aquatic Ventures, Inc., a wholly owned subsidiary of Puget Sound Escrow Closers, Fireman’s Fund Insurance Company, Puget Sound Escrow’s errors and omissions insurer, filed a declaratory judgment action, seeking a ruling that it was under no duty or obligation to defend or indemnify Puget Sound Escrow for any liability, damages, settlement, or judgment arising out of the loan transaction between the Parises and…