Old Republic Seeks to Lift Cash Payout to 60% on Mortgage Claims

Old Republic International Corp. (ORI), the insurer that stopped backing new home loans, proposed paying 60 percent of settled mortgage-guaranty claims in cash, up from 50 percent.

The insurer has an Oct. 16 hearing scheduled with its North Carolina regulator to review its latest plan, the Chicago-based company said today in a statement distributed by PR Newswire.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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