THIS BULLETIN IS FURNISHED TO INFORM YOU OF CURRENT DEVELOPMENTS. AS A REMINDER, YOU ARE CHARGED WITH KNOWLEDGE OF THE CONTENT ON VIRTUAL UNDERWRITER AS IT EXISTS FROM TIME TO TIME AS IT APPLIES TO YOU, AS WELL AS ANY OTHER INSTRUCTIONS. OUR UNDERWRITING AGREEMENTS DO NOT AUTHORIZE OUR ISSUING AGENTS TO ENGAGE IN SETTLEMENTS OR CLOSINGS ON BEHALF OF STEWART TITLE GUARANTY COMPANY. THIS BULLETIN IS NOT INTENDED TO DIRECT YOUR ESCROW OR SETTLEMENT PRACTICES OR TO CHANGE PROVISIONS OF APPLICABLE UNDERWRITING AGREEMENTS. CONFIDENTIAL, PROPRIETARY, OR NONPUBLIC PERSONAL INFORMATION SHOULD NEVER BE SHARED OR DISSEMINATED EXCEPT AS ALLOWED BY LAW. IF APPLICABLE STATE LAW OR REGULATION IMPOSES ADDITIONAL REQUIREMENTS, YOU SHOULD CONTINUE TO COMPLY WITH THOSE REQUIREMENTS.
Bulletin: CA000038
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Bulletin: CA000038
Dear Associates:
A search of our rate manual will not reveal a specific price to be charged for the Piggyback Endorsement 1 or the Secondary Insurance Endorsement 2. Therefore, in order to properly charge for these endorsements, Section 1.12 - Unusual Title Requirements should be used. Section 1.12 does not set a specific price, but does require the charge to be consistent with the general pricing procedures as set forth in the rate manual. In pricing these endorsements, you must take into consideration the dollar amount of the current transaction and risk involved in issuing the endorsement.
As a reminder, before issuing either of these endorsements, refer to the STG Excess or Stacking Provisions Endorsement Guidelines. Among other requirements, it specifically requires "Senior Underwriter Approval". Such approval is also needed for the pricing of these endorsements.
References
- Bulletins Replaced:
- None
- Related Bulletins:
- None
- Underwriting Manual:
- None
- Exceptions Manual:
- None