Bulletin: NY000549

Pursuant to the requirements of New York State Insurance Law, all title reports/title commitments must have the new disclosures required by the Licensing Law. Stewart Title Insurance Company recommends that you immediately begin to provide the required disclosures.  The suggested forms are attached.  They consist of two pages. The Disclosure Statement must be attached to every title report/title commitment. The Disclosure Statement must be completed with the appropriate premium calculations for all transactions where only loan policies are issued.  If a fee policy is issued, premium calculation does not need to be included, however, on all transactions where a policy is issued the consumer must execute the disclosure forms. 

We also include a Consumer Acknowledgment of Title Insurance Premiums, Fees, and Service Charges Form.  This form includes language that Stewart Title Insurance Company suggests that you add to your final title invoice to comply with the new law.  This acknowledgment can be added on to every invoice where a policy is issued. Please make sure all charges, whatsoever, are put on the final invoice and then add this language and have it signed by the party being charged. This signed memorandum of acknowledgment and final title invoice must be kept in your file for three years.