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F.D.I.C. v. VEREX ASSUR., INC.

No. 82495.

645 So.2d 427 (1994)

FEDERAL DEPOSIT INSURANCE CORPORATION, Appellant, v. VEREX ASSURANCE, INC., Appellee.

Supreme Court of Florida.

November 17, 1994.

Attorney(s) appearing for the Case

Alan L. Briggs of Squire, Sanders & Dempsey, Miami, for appellant.

Gerald B. Wald of Murai, Wald, Biondo & Moreno, P.A., Miami, for appellee.

KOGAN, Justice.

This case began when Federal Deposit Insurance Corporation (FDIC) brought suit in federal district court to recover from Verex Assurance, Inc. (Verex) sums allegedly due and owing under two certificates of insurance issued pursuant to a standard mortgage guaranty insurance policy. Verex took the position that it was entitled to rescind the two certificates of insurance due to material misrepresentations contained in the application packages for the...

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