Blackhawk Production Credit Ass'n v. Chicago Title Insurance

I agree with the following analysis in the court of appeals decision, Blackhawk Credit v. Chicago Title Ins., 135 Wis. 2d 324, 333, 400 N.W.2d 287 (Ct. App. 1986):

"Whether Blackhawk sustained a 'net unsecured loss’ does not establish its loss recoverable on the policy. The loss on Blackhawk’s loan is uninsured. Chicago Title did not undertake to pay it. It undertook to indemnify Blackhawk against loss or damage not exceeding $85,000 sustained by reason of a defect in or prior lien or encumbrance on Kim Rolfe’s interest in the three parcels. It agreed, in effect, that if because of a title…