Virtual Underwriter

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Bulletin: NY000628

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Bulletin: NY000628

Bulletin Document
V 1
Date: October 30, 2019
To: All New York State Agents, Office Counsel, and Managers
RE: Use of Drone-Assisted Surveys

In response to inquiries from our customers, Stewart Title Insurance Company’s Underwriting Counsel have been at work researching and vetting the use of drone technology to assist land surveying.  We have met with some of the stakeholders in this technology and have been assured that the drone is not producing the survey, so much as producing and processing data which is thereafter used by a New York State Licensed Surveyor to produce a survey print certified to the policy-issuing office and the underwriter.

As a result, we are happy to report that effective immediately, for New York properties, policy-issuing offices are permitted to read drone-assisted surveys into Stewart Title Insurance Company policies, subject to all existing underwriting standards with respect to survey coverage.  We recognize that due to practical field conditions, many properties cannot take advantage of the technology, but for those that can, we want our customers to have this option.

In the event you have any questions regarding the above, please contact Stewart Title Legal Department at 212-922-0050 and speak with any Underwriting Counsel.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.

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.

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